Wheats Close Mixed on Monday
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Front month wheat markets closed mixed on spread adjusting. Winter wheats were in the black while MPLS ended lower. Losses in HRS were limited to 2 1/4 cents, with a 1 1/2 cent gain for Sep ’22. Winter wheat futures added between 1 3/4 and 5 1/4 cents on the day – with HRW the stronger. 

NASS reported 70% of the 22/23 winter wheat crop was planted as of 10/17. That was up 10% points from last week, but trails the 5-yr average pace by 1ppt. As for emergence, NASS reported 44% of the crop is up, compared to 31% last week and the 5-yr average of 47%. 

USDA data showed 139,753 MT of wheat was shipped during the week that ended 10/18. That was down from 446,652 MT last week and from 242k MT the same week in 2020. HRW was the predominant variety exported last week – even at just 95k MT. Accumulated wheat exports sat at 9.366 MMT as of 10/14. 

Chinese Customs data showed the PRC brought in 640k MT of wheat during September. That was 40% behind last year’s pace, but kept the 2021 yearly imports 25% above 2020 at 7.59 MMT. Ethiopia is still on the market for 300k MT of wheat. 

Dec 21 CBOT Wheat  closed at $7.36 1/4, up 2 1/4 cents,

Cash SRW Wheat  was $6.86, up 2 3/8 cents,

Dec 21 KCBT Wheat  closed at $7.49, up 5 1/4 cents,

Cash HRW Wheat  was $7.26 1/6, up 5 1/8 cents,

Dec 21 MGEX Wheat  closed at $9.67 3/4, down 1 cent,




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