Wheats Closed Double Digits Higher
Front month wheat futures ended the session with double digit gains into the new month of trading. CBT futures closed 17 ¼ to 23 ¼ cents higher with 4% gains in the Dec contract. KC wheat ended up by 11 to 13 cents, with a 1.9% gain in Dec. HRS futures in Minneapolis was 6 to 9 ½ cents higher on the day.
NASS reported winter wheat at 40% planted as of 10/1. That was up from 14% points for the week and trails the average pace by 3% points. NASS cited emergence at 15%, which was 1% point behind the average pace.
Weekly Inspections data had 397,594 MT of wheat exports for the week that ended 9/28. That was down 88k MT wk/wk and was 40% below the same week last year.
NASS reported wheat production at 1.812 bbu and Sep 1 supplies at 1.78 bbu on Friday. Production was upped 78 mbu from the prior figure, with 55 to spring wheat. Grain stocks implied Q1 disappearance was 1.198 bbu.
Dec 23 CBOT Wheat closed at $5.64 3/4, up 23 1/4 cents,
Mar 24 CBOT Wheat closed at $5.96, up 22 1/2 cents,
Cash SRW Wheat was $4.82 5/8, up 27 1/2 cents,
Dec 23 KCBT Wheat closed at $6.76 3/4, up 13 cents,
Cash HRW Wheat was $6.13 1/4, up 26 7/8 cents,
Dec 23 MGEX Wheat closed at $7.18 3/4, up 9 1/2 cents,
On the date of publication, Alan Brugler 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.
