“Prices ranged from $.03-$.11 lower across the 3 classes, closing well off session lows. CGO July-26 was down $.10 ½ at $6.17 ¼, KC July-26 was $.03 lower at $6.87 while MIAX July-26 was $.04 lower at $6.92. KC July-26 premium to CGO traded out to a new high to at $.70 bu. as HRW production is at much greater risk than SRW as there is still the potential for sub-freezing temperatures the next few mornings in the SW plains. A crop tour in OK forecasts the state’s wheat production will reach only 47.8 mil. bu. with an average yield of 23.1 bpa. The average production in the last 10 years is 94.5 mil. bu. while last year’s crop reached 106.4 mil. bu. Tomorrow’s export sales are expected to range from 5-18 mil. bu.,” stated Mark Soderberg with ADM Investor Services.
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