Grainland Farmers -

Wheat Markets Lower at Close

Alan Brugler - Barchart - Mon Aug 10, 9:40PM UTC

Wheat was down again today. SRW wheat was down the most, with September off 4 ½ cents. Sept SRW wheat has traded lower for the last 5/6 days and a total loss of 36 cents. KC futures closed Monday’s session with 1 1/4 to 1 1/2 cent losses. MGE wheat fell back 3 1/4 to 3 3/4 cents. USDA’s weekly export data from the week ending August 6 showed that 379,949 MT of wheat was exported. That was down 32% wk/wk, and 47% below the same week last year. Of the week’s wheat shipments, 23% was destined for Japan. MYTD wheat exports via the weekly report were 2% ahead of 19/20’s pace with 5.067 MMT. Ukraine’s wheat harvest was 87% complete as of August 6. As French wheat harvest wraps up, estimates are for 29-30 MMT. NASS reported 90% of this year’s winter wheat harvest was complete, the average is 93% and trade was expecting 91%. Spring wheat harvest was 10% behind the 5-yr average, with new crop 15% cut as of August 9. Pakistan is tendering for 1.5 MMT of optional origin wheat. Egypt also opened an international wheat tender, with results expected tomorrow.

Sep 20 CBOT Wheat closed at $4.91, down 4 1/2 cents,

Sep 20 KCBT Wheat closed at $4.14, down 1 1/2 cents,

Sep 20 MGEX Wheat closed at $4.90 3/4, down 3 3/4 cents,

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