Wheat Markets Dropping

Thursday wheat trading has futures extending losses. SRW futures are down 1 1/4 to 2 1/4 cents so far. HRW futures are down 2 3/4 to 4 cents at midday. MGE wheat is off 1 1/2 to 2 cents so far. USDA’s weekly Export Sales report had wheat sales at 351,244 MT for the week ending 9/17. That was in line with estimates and 24% above the same week last MY. S Korea was the top purchaser on the week with Vietnam and Japan at 2 and 3 respectively. Of the sales, white wheat was the top variety, with 37.3% of the total. MYTD white wheat commitments are 21.6% of the total, compared to 19.9% LY. Russian Ag Ministry reported winter grain planting is 54.5% complete as of 9/22, which is even with last year’s pace. Black Sea dryness is delaying Ukrainian winter wheat planting. APK Inform reported 0% of winter wheat has been planted for 2021/22’s crop, which usually begins in early Sept. Japan’s MOA purchased 86,027 MT of wheat from their international tender, with 58,385 US origin.

Dec 20 CBOT Wheat is at $5.47 3/4, down 1 1/4 cents,

Dec 20 KCBT Wheat is at $4.81, down 3 1/4 cents,

Dec 20 MGEX Wheat is at $5.31 1/4, down 1 3/4 cents,

--- provided by Brugler Marketing & Management

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