Wheat Rallying on Friday
The wheat complex is trading with 6 to 11 cent gains across the three markets. Chicago SRW futures are 8 to 9 cents higher so far on Friday. KC HRW futures are 10 to 11 cents in the green on Friday. MPLS spring wheat is 6 to 7 cents higher at midday.
The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.
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Export Sales data is fully updated through January 8, with total wheat commitments at 20.392 MMT, which is 15% above last year. That is also 83% of USDA’s export projection and slightly behind the 85% average pace. Export shipments at 15.465 MMT are now 63% of the USDA estimate and ahead of the 59% average shipping pace.
A South Korean importer purchased 92,300 MT of US wheat in Thursday’s tender.
Mar 26 CBOT Wheat is at $5.19 1/4, up 8 3/4 cents,
May 26 CBOT Wheat is at $5.30 1/4, up 8 3/4 cents,
Mar 26 KCBT Wheat is at $5.28, up 10 3/4 cents,
May 26 KCBT Wheat is at $5.39 1/4, up 10 1/2 cents,
Mar 26 MIAX Wheat is at $5.69, up 6 1/2 cents,
May 26 MIAX Wheat is at $5.80 1/2, up 6 1/2 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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