The wheat market is posting gain across the three exchanges at Thursday’s midday. Chicago SRW futures are 10 to 13 cents higher so far on the day. KC HRW futures are 8 to 13 cents so far across most front months. There were 26 deliveries against March KC wheat overnight. MPLS spring wheat is showing 8 to 9 cent gains in the nearbys.
Export Sales data indicated a total of 338,703 MT in wheat sales for the week ending on 2/27, in the middle of estimates of 225,000 and 450,000 MT. That was back up 25.91% from last week and 24.92% larger than the same week last year. New crop was above estimates of 0-75,000 MT at 77,000 MT.
Commodity Bulletin: From crude oil to coffee, this FREE newsletter is for industry pros and rookies alike
The monthly Census data release showed January wheat exports at 1.313 MT (48.26 mbu), which was the lowest total for the month since 1972. That was a drop of 20.53% from last year and 9.4% below December.
President Trump is delaying putting a pause on all tariffs that fall under the USMCA umbrella from Mexico by a month. There has not been any mention of a reprieve on the Canadian tariffs, though previous statements have indicated there was an exemption likely.
South Korean importers purchased a total of 98,200 MT of wheat from the US and Canada, with 50,000 MT US specific.
Mar 25 CBOT Wheat is at $5.30 3/4, up 12 1/4 cents,
May 25 CBOT Wheat is at $5.59, up 10 3/4 cents,
Mar 25 KCBT Wheat is at $5.42 1/4, up 8 1/4 cents,
May 25 KCBT Wheat is at $5.69 1/4, up 12 1/4 cents,
Mar 25 MGEX Wheat is at $5.72 1/2, up 8 cents,
May 25 MGEX Wheat is at $5.96 3/4, up 8 3/4 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.
More news from Barchart
- Where are Wheat Prices Heading in the 2025 Crop Year?
- Grains and Oilseeds in Q4 and 2024- Where are they Heading in 2025?
- Do Grains and Oilseed Futures Offer Value for 2025?
- Do We Have to Wait Until Next Year for a Recovery in Wheat?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
