The wheat complex saw some slight strength across the three markets into Thursday’s close. Chicago SRW futures were fractionally to 3 cents higher on the day in most contracts, with a few deferreds down ¼ cent. KC HRW contracts were up ½ to 1 ½ cents in the nearbys and steady to ¼ cent lower in the back months. MPLS spring wheat posted gains of 1 to 2 ½ cents.
Weekly Export Sales data was out this morning, with export bookings for wheat at 532,885 MT, up 5.71% from last week and in the higher side of the trade estimates of 350,000 to 650,000 MT. The top buyer was Mexico of 169,600 MT, with South Korea purchasing 86,000 MT and unknown destinations in for 80,500 MT.
Russia is proposing a new international grain exchange among the BRICS countries. The plan released in this week’s summit would take several years to get put into place
Dec 24 CBOT Wheat closed at $5.81 1/2, up 3 cents,
Mar 25 CBOT Wheat closed at $6.00 3/4, up 2 1/2 cents,
Dec 24 KCBT Wheat closed at $5.87, up 1 1/2 cents,
Mar 25 KCBT Wheat closed at $6.01 1/4, up 1 cent,
Dec 24 MGEX Wheat closed at $6.18, up 2 1/2 cents,
Mar 25 MGEX Wheat closed at $6.39 3/4, up 2 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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