The wheat markets are trading with contracts higher across the three exchanges. Chicago SRW futures are trading with 4 to 5 cent gains so far on Thursday. Kansas City HRW is trading with 1 to 3 cent gains so far at midday. MPLS spring wheat is up 2 to 4 cents so far on Thursday. The markets will be off on Friday for Good Friday, with today being the last trade day for the week.
Export sales data showed a total of 76,497 MT of wheat sold in the week ending on April 10, in the middle of the estimated range of net reductions of 100,000 MT to net sales of 200,000 MT for old crop. The Dominican Republic purchased a total of 30,700 MT, with 25,800MT sold to Venezuela. New crop sales came in a 276,864 MT, on the high end of the range of expectations at 0-300,000 MT. Mexico was the buyer of 142,300 MT, with Japan in for 58,900 MT.
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SovEcon estimates the 2025 Russian wheat crop at 79.7 MMT, a 1.1 MMT increase from their previous number, with the winter wheat crop up 1.5 MMT to 52.2 MMT. Algeria purchased a total of at least 600,000-630,000 MT of wheat in a tender on Wednesday.
May 25 CBOT Wheat is at $5.52 1/4, up 4 1/2 cents,
Jul 25 CBOT Wheat is at $5.65 3/4, up 4 3/4 cents,
May 25 KCBT Wheat is at $5.60 1/2, up 2 1/2 cents,
Jul 25 KCBT Wheat is at $5.73 3/4, up 1 1/2 cents,
May 25 MGEX Wheat is at $6.06 1/4, up 2 1/2 cents,
Jul 25 MGEX Wheat is at $6.20 1/4, up 3 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.
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