The wheat complex is falling back on Monday. Chicago SRW futures are fown 3 to 4 cents so far on the day. KC HRW futures are 7 to 8 cents higher on Friday. MPLS spring wheat is trading with contracts 2 to 3 cents lower.
Export Inspections data showed wheat shipments at 535,113 MT (19.66 mbu) shipped in the week that ended on February 19. That was up 41.57% from the week prior, and 37.37% above the same week last year. The Philippines was the top destination of 89,227 MT, with 67,932 MT to Nigeria and 62,144 MT to Bangladesh. Marketing year shipments have totaled 18.24 MMT (670.33 mbu), which is up 19.41% yr/yr.
Commitment of Traders data indicated spec funds slashing 17,618 contracts from their net short position in Chicago wheat in the week of 2/17, taking the total position to 68,037 contracts. In KC wheat, they trimmed 8,887 contracts from their net short to 10,609 contracts.
Mar 26 CBOT Wheat is at $5.72 3/4, down 3/4 cent,
May 26 CBOT Wheat is at $5.77, down 3 1/4 cents,
Mar 26 KCBT Wheat is at $5.65 1/4, down 7 cents,
May 26 KCBT Wheat is at $5.77 1/4, down 8 cents,
Mar 26 MIAX Wheat is at $5.84 1/4, down 3 cents,
May 26 MIAX Wheat is at $5.98, down 2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
