Wheat prices declined into the weekend, with Chicago SRW contracts closing down 2 ¼ to 3 ¼ cents, while KC HRW futures experienced minor losses, closing down fractionally to 3 ¾ cents. Notably, July contracts were up by 13 ¾ cents this week. Commitment of Traders data indicated that managed money liquidated 16,852 contracts in Chicago, increasing their net short to 79,407 contracts as of Tuesday.
In new crop USDA export sales reported by FAS, 4.591 million metric tons were sold as of June 4, representing 21.77% of the USDA’s projected exports for the marketing year, which is slightly below the 5-year average of 23.18%. Additionally, the French soft wheat crop was rated 77% in good/excellent condition, up 1 percentage point from the previous week, while durum wheat declined to 64% good/excellent.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
