The wheat complex is trading higher across the three exchanges on the Friday session. Chicago SRW futures was up 3 to 7 cents in the nearbys. There were 416 deliveries issued against September CBT wheat futures on first notice day. KC HRW is 1 to 5 1/2 cents higher in the front months. MPLS spring wheat is 4 to 5 cents in the green across the nearby contracts.
All wheat export commitments have been taken to 10.023 MMT including products, which is 45% of the USDA forecast total for 2024/25 sales and lagging the 47% average pace. Total shipments from the FAS data are now 4.999 MMT, or 22% of USDA’s number and behind the 24% average.
Russia wheat production estimate is pegged at 82.5 MMT according to the latest SovEcon release, down 0.8 MMT from the previous estimate.
Sep 24 CBOT Wheat is at $5.32 1/2, up 7 1/2 cents,
Dec 24 CBOT Wheat is at $5.51 3/4, up 3 cents,
Sep 24 KCBT Wheat is at $5.51, up 5 1/2 cents,
Dec 24 KCBT Wheat is at $5.61 1/2, up 1 cent,
Sep 24 MGEX Wheat is at $5.66 1/2, up 4 cents,
Dec 24 MGEX Wheat is at $5.95 1/2, up 5 cents,
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