Wheat Bulls Pushing Back on Thursday

The wheat complex is trading higher across the three exchanges on Thursday. Chicago SRW futures are 3 to 4 cents so far on the day. KC HRW contracts are 3 to 4 cents higher on the session. MPLS spring wheat is trading with 5 to 6 cent higher action.

Export Sales data will be released on a delayed schedule for Friday morning given the Monday holiday. Traders expect to see 250,000 to 550,000 MT of all wheat sales for 2024/25 in the week that ended on 10/10, with 0 to 50,000 MT for 2025/26.

Taiwan purchased a total of 78,200 MT of US origin wheat in a tender on Thursday. International Grains Council data showed word wheat production unchanged at 798 MMT, with consumption up 1 MMT and carryout trimmed by 1 MMT to 266 MMT.

Dec 24 CBOT Wheat  is at $5.88 3/4, up 3 3/4 cents,

Mar 25 CBOT Wheat  is at $6.08 1/4, up 3 cents,

Dec 24 KCBT Wheat  is at $5.92 1/2, up 3 3/4 cents,

Mar 25 KCBT Wheat  is at $6.07 1/4, up 3 3/4 cents,

Dec 24 MGEX Wheat  is at $6.26 1/4, up 5 1/2 cents,

Mar 25 MGEX Wheat  is at $6.47 3/4, up 5 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.