Friday’s Wheat Trade Closes Higher

The last trade day of the week ended with wheat in the black. Chicago prices ended 4 ¼ to 6 ¾ cents higher, with a net 25 ½ cent rally for the week for March. March SRW gained a net 12 ¾ cents through November. HRW futures ended the last trade day of the week 1 ¾ to 4 cents higher across the front months leaving the HRW/SRW premium at 44 cents. Spring wheat futures were ¾ to a penny higher at the close. 

There were 125 deliveries vs. KC December futures, all stopped by SG Americas customers. Deliveries against December CBT wheat slowed from over 1300 on FND to 405 last night, but are still spread over 9 different clearing firms. 

The FAS Export Sales report had 622,803 MT of wheat sales during the week that ended 11/23. That was a 6-wk high led by sales to China and Unknown. By class, the report showed 186k MT for SRW, 164.7k MT of HRW, 120k MT HRS, 135k MT white, and 18k MT of durum. USDA also had 340k MT of wheat shipped for the week, bringing the total export to 7.9 MMT. Total commitments were up to 466.2 mbu. 

Dec 23 CBOT Wheat  is at $5.77 1/2, up 7 1/4 cents,

Mar 24 CBOT Wheat  is at $6.09 1/4, up 11 1/4 cents,

Cash SRW Wheat  is at $4.75 5/8, up 11 5/8 cents,

Mar 24 KCBT Wheat  is at $6.47 3/4, up 4 3/4 cents,

Cash HRW Wheat  is at $5.47 3/8, up 5 1/4 cents,

Mar 24 MGEX Wheat  is at $7.32 1/2, up 3 cents,

On the date of publication, Alan Brugler 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.

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