Wheat Rallying on Tuesday
Wheat is posting some Turnaround Tuesday gains at midday. Chicago SRW futures are up 9 to 10 cents so far on the day. KC HRW is 9 to 15 cents higher in the front months. MPLS spring wheat is 5 to 7 ¼ cents higher in the nearbys.
The weekly Crop Progress report showed the spring wheat down 2 percentage points from the 5-year average at 51% harvested. Condition ratings were down 4% to 69% in the good or excellent categories. The Brugler500 index was down 10 on the week at 369.
EU soft wheat exports have totaled 3.93 MMT since July 1 and through August 23, down nearly 1.1 MMT from the same period last year.
Sep 24 CBOT Wheat is at $5.07, up 9 cents,
Dec 24 CBOT Wheat is at $5.34 3/4, up 9 3/4 cents,
Sep 24 KCBT Wheat is at $5.39 3/4, up 14 3/4 cents,
Dec 24 KCBT Wheat is at $5.46 1/2, up 9 1/4 cents,
Sep 24 MGEX Wheat is at $5.47, up 5 1/2 cents,
Dec 24 MGEX Wheat is at $5.75 1/4, up 7 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.
