Wheat Closes in Black on Thursday

The U.S. wheat markets were mostly higher on Thursday. SRW wheat was up the most with gains of 7 1/4 to 8 3/4 cents in the front months. HRW wheat was UNCH in July and Sept, but the deferred contracts were fractionally higher. HRS wheat futures closed the day with 1 1/2 to 2 3/4 cent gains. There were 26 more deliveries against HRW futures, month to date deliveries are at 238 contracts. SRW futures had 84 deliveries yesterday, for an accumulated total of 675 against July. USDA’s weekly Export Sales report showed 326,140 MT of wheat sales, that is down 22% wk/wk but 15% above the same week last year. SRW wheat was the top seller with 46% of the total. Accumulated SRW commitments are 29% behind last year’s pace through the first 5 weeks of the MY. The weekly update also showed the 75,000 MT of 2021/22 SRW bookings were canceled. Traders estimate USDA will increase 19/20 world ending stocks 1.5 MMT to 297.3 MMT on Friday.

Sep 20 CBOT Wheat closed at $5.25, up 8 1/2 cents,

Sep 20 KCBT Wheat closed at $4.56 3/4, unch,

Sep 20 MGEX Wheat closed at $5.26, up 2 3/4 cents,

--- provided by Brugler Marketing & Management

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