The wheat market is taking the Wednesday losses back on Thursday with contracts higher across the three markets. CBT soft red wheat futures are up 6 to 7 cents at midday. KC HRW futures are back up 4 to 5 cents on Thursday. MPLS spring wheat futures are 3 to 4 cents in the green so far on the session.
The weekly USDA Export Sales report showed bookings at 539,842 MT, which was on the higher side of the expected 300,000 MT and 600,000 MT from analysts in the week ending on September 18. That was 43.02% above the week prior and more than triple the same week last year.
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Russia’s wheat crop is estimated at 87.5 MMT according to the latest estimate from IKAR, up 0.5 MMT from the previous number.
Dec 25 CBOT Wheat is at $5.26 1/2, up 7 cents,
Mar 26 CBOT Wheat is at $5.44 1/2, up 6 1/2 cents,
Dec 25 KCBT Wheat is at $5.11 3/4, up 5 cents,
Mar 26 KCBT Wheat is at $5.32 1/4, up 4 cents,
Dec 25 MGEX Wheat is at $5.70 3/4, up 3 cents,
Mar 26 MGEX Wheat is at $5.91 1/2, up 3 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
