The wheat complex is getting a Friday bounce following a week of losses. Chicago SRW futures are up 9 to 10 cents across the nearbys so far on the day. KC HRW contracts are posting gains of 7 to 9 cents at midday. MPLS spring wheat is up 8 to 9 cents on the session.
The USDA’s weekly Export Sales report showed all wheat bookings improving slightly to 380,056 MT in the week of November 7. That was in the middle of the 250,000 to 550,000 MT range of estimates, and up 1.42% from last week.
French milling futures were on the rise overnight, providing some spillover support to the US markets. The French soft wheat crop was reported at 78% planted according to FranceAgriMer, now 5 percentage points behind normal.
Dec 24 CBOT Wheat is at $5.40, up 9 3/4 cents,
Mar 25 CBOT Wheat is at $5.57 1/2, up 9 1/4 cents,
Dec 24 KCBT Wheat is at $5.42, up 9 cents,
Mar 25 KCBT Wheat is at $5.54, up 7 1/4 cents,
Dec 24 MGEX Wheat is at $5.75 1/4, up 8 3/4 cents,
Mar 25 MGEX Wheat is at $5.94 1/2, up 8 3/4 cents,
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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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