“Prices ranged from slightly lower in MIAX futures to $.10 lower in CGO. New contract low for Sept-25 CGO however managed to hold above the $5.00 level. All U.S. wheat production fell 2 mil. to 1.927 bil. bu. slightly above expectations. The average yield at 52.7 bpa matches the record high from 2016. Winter wheat production increased 10 mil. to 1.355 bil. roughly 10 mil. above expectations. HRW production was up 14 mil. to 769 mil., SRW up 2 mil. to 339 mil. while white was down 7 mil. Spring wheat production was down 20 mil. to 484 mil. while durum was up 7 mil. to 87 mil. Bushels,” noted Mark Soderberg with ADM Investor Services.
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