Wheat Popping Higher on Friday

The wheat complex is trading with gains across the three markets on to round out the week. Chicago SRW futures are 8 to 9 cents in the green on Friday. KC HRW futures are trading 7 to 9 ¼ cents higher on the session. MPLS spring wheat is facing Friday gains of 6 to 7 ¼ cents at midday.

Export Sales data was out this morning with the Wednesday holiday, as USDA reported 182,844 MT of wheat sales in the week of November 5, well shy of a survey of traders from Reuters looking for a range of 350,000 to 650,000 MT. That was a marketing year low and down 60.46% from the same week last year. New crop business was 0 MT.

Argentina’s wheat production estimate from the Rosario Grains Exchange was raised by 0.5 MMT to 24.3 MMT. Brazil’s CONAB estimates the country’s winter wheat crop at 5.3 MMT, down 0.4 MMT from the previous month. The FranceAgriMer estimates the country’s wheat crop at 90% planted, ahead of the 82% average pace.

Dec 26 CBOT Wheat  is at $5.93 1/4, up 9 cents,

Mar 27 CBOT Wheat  is at $6.07 3/4, up 8 1/2 cents,

Dec 26 KCBT Wheat  is at $6.31 1/2, up 9 1/4 cents,

Mar 27 KCBT Wheat  is at $6.40, up 7 3/4 cents,

Dec 26 MIAX Wheat  is at $6.30, up 7 1/4 cents,

Mar 27 MIAX Wheat  is at $6.42 3/4, up 6 cents,

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.