Wheat prices are trading 3 to 6 cents higher on your Thursday morning trade. Futures faded the slight midday strength on Wednesday as the three exchanges closed mixed. Chicago SRW futures were up 3 to 4 cents in the front months on the day. Kansas City HRW contracts saw fractional losses at the close. MPLS spring wheat was down 1 to 3 cents.
The weekly Export Sales report will be updated on Thursday, as traders are estimating bookings in the week of July 25 totaled between 250,000 to 550,000 MT.
Japan’ weekly MOA tender saw the country purchase 119,145 MT of corn from the three usual suspects, Australia, Canada, and the US, with 57,575 MT originating from the latter. There was an additional tender from Taiwan overnight, buying 105,650 MT of US wheat.
Russia’s export tax is down 41.2% from the week prior at 906.4 rubles per ton for the week of July 31 to August 6. Tunisia purchased 125,000 MT of soft wheat and 50,000 MT of durum wheat imports on Tuesday.
Sep 24 CBOT Wheat closed at $5.27 1/4, up 3 1/4 cents, currently up 5 1/2 cents
Dec 24 CBOT Wheat closed at $5.52, up 3 cents, currently up 5 1/4 cents
Sep 24 KCBT Wheat closed at $5.49, down 1 1/4 cents, currently up 5 3/4 cents
Dec 24 KCBT Wheat closed at $5.65 3/4, down 1/2 cent, currently up 6 cents
Sep 24 MGEX Wheat closed at $5.81 1/2, down 3 cents, currently up 6 1/2 cents
Dec 24 MGEX Wheat closed at $6.01, down 2 1/4 cents, currently up 6 1/2 cents
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