Wheat Mixed at Midday
The wheat complex is mixed at midday, with the soft red market leading the charge higher and spring wheat softer. CBT soft red wheat futures are up 1 to 2 cents in the nearbys. KC HRW futures are showing fractional gains across most contracts on Friday. MPLS spring wheat is slipping back 2 cents at midday.
Export Sales data from USDA has the full year export business at 11.03 MMT which is the largest for the currently week since the 2013/14 MY. That is also 46% of the USDA forecast, which is normally 43% met by now.
A Grains Industry association in Australia estimates the western portion of the country’s wheat crop at 11.5 MMT, a 2.1 MMT increase from their previous estimates.
Sep 25 CBOT Wheat is at $5.05 1/2, up 2 cents,
Dec 25 CBOT Wheat is at $5.26, up 1 1/2 cents,
Sep 25 KCBT Wheat is at $5.04 3/4, up 1/2 cent,
Dec 25 KCBT Wheat is at $5.26 1/4, up 1/4 cent,
Sep 25 MGEX Wheat is at $5.70, down 2 cents,
Dec 25 MGEX Wheat is at $5.90, down 2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
