Wheat Bulls Turn Higher at Midday
The wheat complex is Holding onto modest Wednesday gains at midday. Chicago SRW contracts are up 1 to 2 cents, with September the lone holdout in deliveries. There were another 9 deliveries overnight against Sep CBT wheat. KC HRW futures are up 1 to 2 cents in most contracts with September up 6 ¼. There were 29 delivery notices for September KC wheat overnight. MPLS spring wheat is showing 9 to 10 cent gains at midday.
Overnight, Russia suspended the export duty on grain exports through the end of the year.
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EU soft wheat exports have totaled 4.16 MMT as of August 30 since July 1, which is now down just 0.16 MMT from last year.
Sep 26 CBOT Wheat closed at $7.55 3/4, down 8 1/4 cents,
Dec 26 CBOT Wheat closed at $7.84, up 1 1/2 cents,
Sep 26 KCBT Wheat closed at $8.32, up 6 1/4 cents,
Dec 26 KCBT Wheat closed at $8.47, up 1 3/4 cents,
Sep 26 MIAX Wheat closed at $7.56 3/4, up 1/4 cent,
Dec 26 MIAX Wheat closed at $7.87 1/2, up 9 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.
