Wheat Posts Strength on Thursday
The wheat complex posted gains across the three exchanges on Thursday. Chicago SRW futures were 4 to 4 ½ cents higher on the day. KC HRW contracts were up 4 ¼ to 7 1/4 cents on the session. MPLS spring wheat rallied 4 ¼ to 8 cents higher into the close.
Export Sales data will be released on a delayed schedule for Friday morning given the Monday holiday. Traders expect to see 250,000 to 550,000 MT of all wheat sales for 2024/25 in the week that ended on 10/10, with 0 to 50,000 MT for 2025/26.
Taiwan purchased a total of 78,200 MT of US origin wheat in a tender on Thursday. International Grains Council data showed word wheat production unchanged at 798 MMT, with consumption up 1 MMT and carryout trimmed by 1 MMT to 266 MMT.
Dec 24 CBOT Wheat closed at $5.89 1/2, up 4 1/2 cents,
Mar 25 CBOT Wheat closed at $6.09 1/2, up 4 1/4 cents,
Dec 24 KCBT Wheat closed at $5.96, up 7 1/4 cents,
Mar 25 KCBT Wheat closed at $6.10, up 6 1/2 cents,
Dec 24 MGEX Wheat closed at $6.28 3/4, up 8 cents,
Mar 25 MGEX Wheat closed at $6.50, up 7 1/4 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.