Wheat Higher at Midday
The wheat complex is showing some slight gains to round out the week. CBT soft red wheat futures is 3 to 4 cents in the green at midday. The CBOT showed another 3 deliveries issued for September wheat overnight. KC HRW futures are up 2 to 5 cents across the front months on Friday. There were 8 deliveries against Sep KC wheat overnight. MPLS spring wheat is showing firmer trade, with contracts up 1 ¼ to 2 cents, as thinly traded September is down 4 cents.
USDA’s Export Sales report from this morning showed a total of just 312,978 MT of wheat sold in the week of August 28, below traders estimates of 350,000 to 700,000 MT. That was the second lowest for the marketing year. USD FOB prices had been competitive on the world market have recently become closer to some major competition via the French and Russian FOB prices.
Sep 25 CBOT Wheat is at $5.06, up 3 3/4 cents,
Dec 25 CBOT Wheat is at $5.22, up 2 1/2 cents,
Sep 25 KCBT Wheat is at $4.84, up 4 1/4 cents,
Dec 25 KCBT Wheat is at $5.08 1/4, up 2 cents,
Sep 25 MGEX Wheat is at $5.49 1/2, down 4 cents,
Dec 25 MGEX Wheat is at $5.71 1/2, up 1 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.