Wheat Rallies Double Digits on Wednesday
The wheat markets posted double digit gains across the three markets on Wednesday. Chicago SRW futures were up 17 to 18 cents in the nearbys at the close. KC HRW futures were 19 to 20 cents higher in the front months on the session. MPLS spring wheat was 14 to 16 cents in the green.
Export Sales data will be released on Thursday morning, with traders looking for 150,000 to 500,000 MT in 2024/25 wheat sales during the week of 1/23, with 0 to 50,000 MT expected for 2025/26 sales.
Japan has issued a tender to buy 89,134 MT of wheat from the US and Canada, with 29,070 MT US specific.
Mar 25 CBOT Wheat closed at $5.62 1/2, up 17 1/4 cents,
May 25 CBOT Wheat closed at $5.76, up 17 1/4 cents,
Mar 25 KCBT Wheat closed at $5.80 1/4, up 19 1/4 cents,
May 25 KCBT Wheat closed at $5.90 1/4, up 19 1/2 cents,
Mar 25 MGEX Wheat closed at $6.13 3/4, up 16 cents,
May 25 MGEX Wheat closed at $6.22 1/4, up 14 1/4 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.More news from Barchart
