The wheat complex saw higher trade on Wednesday. Chicago SRW futures were 3 to 4 cents in the green on Wednesday. KC HRW futures were up 4 to 5 cents in the front months. MPLS spring wheat was up 3 cents in the front months on Wednesday.
The next 7 days look on the drier side for much of the Southern Plains, with the eastern half of the country and SRW area looking wetter.
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Weekly Export Sales data will be out on Thursday, as traders are looking for between 200,000 and 450,000 MT in old crop wheat sales. New crop is estimated at 0-60,000 MT.
A South Korean tender saw 32,000 MT of wheat purchased from the US overnight. Taiwan issued a tender for 105,020 MT of US wheat overnight. FranceAgrimer estimates from Wednesday morning showed French soft wheat stocks at 3.39 MMT, up 340,000 MT from the previous number.
Mar 26 CBOT Wheat closed at $5.88 1/2, up 3 3/4 cents,
May 26 CBOT Wheat closed at $5.94 3/4, up 3 3/4 cents,
Mar 26 KCBT Wheat closed at $6.01 1/2, up 4 3/4 cents,
May 26 KCBT Wheat closed at $6.13 1/2, up 4 3/4 cents,
Mar 26 MIAX Wheat closed at $6.25 1/4, up 3 cents,
May 26 MIAX Wheat closed at $6.38, up 3 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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