Wheat Rallying on Wednesday
The wheat complex is trading with double digit gains across the three markets at midday. Chicago SRW contracts are 15 cents higher in the front months. KC HRW futures are 14 to 15 ½ cents higher. MPLS spring wheat is up 12 to 13 cents at midday. The market will round out the week on Thursday, with Friday off in observance of Juneteenth.
Export Sales data will be updated on Thursday, with traders looking for between 250,000 and 450,000 MT in 2026/27sales.
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The EU wheat exports from July 1 to June 14 have totaled 22.38 MMT according to European Commission data, up 1.44 MMT from the same period a year ago. The FranceAgriMer estimates the French wheat ending stocks at 3.5 MMT, a 0.22 MMT increase from the May estimate.
Algeria has purchased an estimated 600,000 to 780,000 MT of wheat in their tender on Wednesday.
Jul 26 CBOT Wheat is at $6.11, up 15 cents,
Sep 26 CBOT Wheat is at $6.19 1/4, up 15 cents,
Jul 26 KCBT Wheat is at $6.48 1/2, up 14 3/4 cents,
Sep 26 KCBT Wheat is at $6.56 1/2, up 15 1/2 cents,
Jul 26 MIAX Wheat is at $6.25, up 12 3/4 cents,
Sep 26 MIAX Wheat is at $6.47 1/4, up 12 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.
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