Wheat Rallies into the Close to Post Thursday Gains

The wheat complex saw strength late the session to close with gains across the three markets. Chicago SRW was fractionally higher to 7 cents in the green, led by the neatbys. KC HRW futures were 1 ½ to 5 ¾ cents higher at the close. MPLS spring wheat was 3 ½ to 4 ½ cents in the green.

USDA’s Export Sales report from this morning showed 289,255 MT of wheat sales in the week of 9/24. That was up 8.11% from last week but down 8.43% from the same week last year. The top buyer was Mexico 94,400 MT, with 63,000 MT sold to the Philippines.

A Taiwan flour mill tendered to purchase an estimated 105,800 MT of wheat from the US, with offers due next Wednesday. A South Korean mill importer purchased 100,000 MT of wheat from the US overnight. Saudi Arabia issued a tender for 535,000 MT of wheat with offers due on Friday. 

Dec 26 CBOT Wheat  closed at $6.82 3/4, up 7 cents,

Mar 27 CBOT Wheat  closed at $6.97, up 6 1/4 cents,

Dec 26 KCBT Wheat  closed at $7.37 1/2, up 4 1/2 cents,

Mar 27 KCBT Wheat  closed at $7.51, up 4 1/2 cents,

Dec 26 MIAX Wheat  closed at $6.97 3/4, up 3 1/2 cents,

Mar 27 MIAX Wheat  closed at $7.18, up 4 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 Barchart Disclosure Policy here.