Wheat Trading with Monday Midday Gains
The wheat complex are trading with gains across the three markets in Monday. Chicago SRW futures are 5 to 6 cents higher at midday. KC HRW futures are 8 to 9 cents in the green at midday. MPLS spring wheat is up 2 to 3 cents so far on the session.
Monday morning’s Export Inspections report showed a total of just 183,305 MT (6.74 mbu) of wheat shipped in the week of 1/1. That was 42.47% below the week prior and 55.57% lower than the same week last year. The Philippines was as the largest destination of 74,996 MT, with 70,722 MT shipped to Mexico and 33,571 MT to Japan. The marketing year total is now 15.263 MMT (560.8 mbu) of wheat shipped, which is now 19.64% above the same period last year.
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USDA Export Sales data from this morning for the week of Christmas showed just 95,385 MT of wheat sold, below trade ideas looking for between 100,000 to 500,000 MT. That was a marketing year low and down 32.15% from the same week last year.
Mar 26 CBOT Wheat is at $5.12 1/2, up 6 cents,
May 26 CBOT Wheat is at $5.23 1/2, up 5 1/4 cents,
Mar 26 KCBT Wheat is at $5.23 3/4, up 8 3/4 cents,
May 26 KCBT Wheat is at $5.36 1/4, up 8 1/4 cents,
Mar 26 MIAX Wheat is at $5.73, up 2 1/4 cents,
May 26 MIAX Wheat is at $5.83 3/4, up 2 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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