⛏Chicago SRW Wheat Futures
WHEAT
▼ NegativeSupplyrelevance
Harvest progress matches normal pace, indicating ample supply, while exports hit a three-year low.
Impact on assets 1
Others
Wheat futures are trading lower at midday on Tuesday, with Chicago SRW contracts down 12 to 14 cents, KC HRW futures 10 to 12 cents lower in the front months, and MPLS spring wheat off 9 to 10 cents across most contracts. The US winter wheat harvest reached 86% completion by Sunday, matching the five-year average, while spring wheat conditions improved 2 percentage points to 55% good to excellent, lifting the Brugler500 index 6 points to 348. Quarterly flour milling data showed 222.28 million bushels of wheat ground from April to June, down just 0.65 million bushels from a year ago. June wheat exports totaled 1.473 million metric tons, a three-year low and 8.49% below the May figure, though a South Korean mill purchased 50,000 metric tons of US wheat in a tender overnight.
Harvest progress matches normal pace, indicating ample supply, while exports hit a three-year low.