Wheat Continues Higher on Thursday
The wheat complex is trading with gains across most contracts so far on the Thursday session. Chicago SRW futures were steady to 4 ¾ cents higher in most contracts. KC HRW futures led the bull’s charge, up 11 to 17 1/4 cents in the front months. MPLS spring wheat was up 10 1/4 to 12 3/4 cents at the close.
Export Sales data will from Thursday morning showed 100,318 MT of old crop wheat sold in the week of 4/9, down 38.68% from last week but up 31.14% from the same week last year. Nigeria was the buyer of 52,400 MT, with Vietnam buying 34,800 MT. New crop business was in tallied at 131,000 MT. South Korea was the buyer of 90,000 MT, with 22,000 MT sold to Mexico.
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Taiwan mill importers issued a tender to buy 105,950 MT of wheat from the US, due next Thursday. Algeria purchased an estimated 400,000 MT of durum wheat in a tender on Wednesday.
May 26 CBOT Wheat closed at $5.98 1/2, up 4 3/4 cents,
Jul 26 CBOT Wheat closed at $6.06 1/2, up 4 3/4 cents,
May 26 KCBT Wheat closed at $6.42 3/4, up 17 1/4 cents,
Jul 26 KCBT Wheat closed at $6.55, up 16 1/2 cents,
May 26 MIAX Wheat closed at $6.52 3/4, up 12 1/4 cents,
Jul 26 MIAX Wheat closed at $6.67, up 12 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.
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