The wheat complex is trading with mixed feelings across the three markets at Friday’s midday.Chicago SRW futures are up 2 to 3 cents so far on the day. KC HRW are trading with fractional losses across the nearbys. MPLS spring wheat is trading with 2 to 3 cent gains.
Thursday morning’s Export Sales report showed all export commitments for wheat are now 11.093 MMT, which is 28% above the same time last year and a 4-year high. That is 49% of the USDA export projection, with the 5-year average pace at 52%.
Ukraine’s ag ministry pegs the 2024/25 winter wheat planted area dripping 4.5% from their previous number to 11.07 million acres.
Dec 24 CBOT Wheat is at $5.68 1/2, up 3 cents,
Mar 25 CBOT Wheat is at $5.87 3/4, up 2 3/4 cents,
Dec 24 KCBT Wheat is at $5.64, down 1/2 cent,
Mar 25 KCBT Wheat is at $5.78, down 1/4 cent,
Dec 24 MGEX Wheat is at $6.09 3/4, up 2 cents,
Mar 25 MGEX Wheat is at $6.32 1/4, up 2 1/2 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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
