Wheat Posting Midday Gains Heading into Month End

The wheat complex is higher across the three markets on Friday. Chicago SRW contracts are up 2 to 3 cents. KC HRW futures are 2 to 3 cents higher in the front months. MPLS spring wheat is steady to fractionally higher on the session.

There were wire reports on Thursday of China’s COFCO inquiring on US SRW wheat for import. USDA did not confirm that via any export announcements this morning. 

Export Sales data from Thursday took the total export commitments for wheat to 11.626 MMT, which is now down 29% from last year. That is 57% of the USDA export projection, lagging the 65% pace from the 5-year average.

A South Korean mill importer purchased 50,000 MT of US wheat overnight. The FranceAgriMer estimate the country’s wheat crop at 62% planted as of 10/26, lagging the 67% pace from last year. 

Dec 26 CBOT Wheat  is at $6.06, up 2 1/4 cents,

Mar 27 CBOT Wheat  is at $6.19 3/4, up 2 1/2 cents,

Dec 26 KCBT Wheat  is at $6.47 3/4, up 2 1/2 cents,

Mar 27 KCBT Wheat  is at $6.57, up 2 1/4 cents,

Dec 26 MIAX Wheat  is at $6.24 1/2, unch,

Mar 27 MIAX Wheat  is at $6.42 1/2, up 1/4 cent,

On the date of publication, Austin Schroeder did not directly have a position 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.