Wheat Posts Friday Gains
The wheat complex is trading with gains across the three markets on to round out the week. Chicago SRW futures posted Friday gains of 5 to 9 cents across the board, as December was up just 2 cents for the week. KC HRW futures saw strength of 3 to 6 ½ cents on the session with December holding for a weekly loss of 3 ¾ cents. MPLS spring wheat saw Friday gains of 2 ¾ to 4 cents, as December rallied 10 ¾ cents this week.
Export Sales data was out this morning with the Wednesday holiday, as USDA reported 182,844 MT of wheat sales in the week of November 5. That was a marketing year low and down 60.46% from the same week last year. Mexico was the top buyer of 52,800 MT, with 48,400 MT to Japan.
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The Buenos Aires Grains Exchange estimates the Argentina corn crop at 11.9% harvested, near average pace. Brazil’s CONAB estimates the country’s winter wheat crop at 5.3 MMT, down 0.4 MMT from the previous month. The FranceAgriMer estimates the country’s wheat crop at 90% planted, ahead of the 82% average pace.
Dec 26 CBOT Wheat closed at $5.93 1/4, up 9 cents,
Mar 27 CBOT Wheat closed at $6.06 3/4, up 7 1/2 cents,
Dec 26 KCBT Wheat closed at $6.28 3/4, up 6 1/2 cents,
Mar 27 KCBT Wheat closed at $6.37 1/4, up 5 cents,
Dec 26 MIAX Wheat closed at $6.27 3/4, up 4 cents,
Mar 27 MIAX Wheat closed at $6.40 3/4, up 3 cents,
On the date of publication, Austin Schroeder did not directly have a position 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.