Wheat Rallying into the Weekend
The wheat complex is trading with the three exchanges extending gains on Friday. Chicago SRW contracts are showing 22 to 23 cent gains so far on Friday. KC HRW futures are showing 25 to 26 cent gains on the day. MPLS spring wheat is in rally mode, up 13 to 17 cents at midday.
While the US hasn’t picked up much additional export business, thoughts of the export disruptions on the Black Sea have been adding premium to the market.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Export Sales data shows wheat sales for the current marketing year at 8.342 MMT, down 31% from the same week last year. That is 40% of the USDA export projection and behind the 52% average.
Ukraine’s Ag minister expects that the 2027 winter wheat crop “will definitely” be down from the 4.7 million hectares 11.61 million acres.
Sep 26 CBOT Wheat is at $7.65 1/4, up 22 1/2 cents,
Dec 26 CBOT Wheat is at $7.83 1/2, up 22 3/4 cents,
Sep 26 KCBT Wheat is at $8.29 1/4, up 25 3/4 cents,
Dec 26 KCBT Wheat is at $8.47 3/4, up 25 3/4 cents,
Sep 26 MIAX Wheat is at $7.46 1/2, up 13 3/4 cents,
Dec 26 MIAX Wheat is at $7.74, up 16 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.
