French Camp Grain Company, Inc. -

Tuesday Wheat in Black

Alan Brugler - Barchart - Tue May 04, 4:39PM UTC

Related Stocks

ZWN21 - Wheat

Sym	Last	Chg	Pct
ZWN21	645-0s	+16-2	+2.58%
KEN21	617-4s	+5-0	+0.82%
MWK24	646-6	+8-0	+1.25%

So far wheat futures are bouncing back for the Turnaround Tuesday. CBT futures are back up by 4 1/2 to 12 cents led by in delivery May contracts. KC wheat futures are trading 7 3/4 to 8 cents higher at midday. MGE wheat futures are recovering 3 3/4 to 6 1/4 cents in the black.

Official March wheat exports were reported at 2.15 MMT (78.87 mbu). Census data confirmed that was a 4-yr high for the month of March and brought the season’s total to 21.415 MMT (786.8 mbu). March wheat shipments to China specifically were a 25 year high.

SovEcon raised their forecast for Ukrainian wheat production by 400k MT to 28.6 MMT. That would be a record output and up from 24.9 MMT in 2020/21 if realized.

Spring wheat planting was reported at 49% complete as of 5/2. The average is to be 32% planted. Spring wheat emergence was 4 ppts ahead of average with 14% of new crop emerged as of 5/2. Winter wheat conditions were down 1 point on the Brugler500 index to 329. Oregon conditions were down the most with a 50 point drop from 349 on the Brugler500. KS winter wheat conditions were a 345 on the Brugler500, up 6 points wk/wk. National winter wheat condition ratings are 15 points below the same week last year, but major producer KS is 26 points better.

Cash SRW Wheat is at $6.97 5/6, up 7 7/8 cents,

Jul 21 CBOT Wheat is at $7.23, up 5 cents,

Cash HRW Wheat is at $6.67 2/3, up 8 7/8 cents,

Jul 21 KCBT Wheat is at $6.96 1/2, up 8 cents,

Jul 21 MGEX Wheat is at $7.65, up 6 1/4 cents,

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