The wheat complex is trading with midday gains across the three exchanges. Chicago SRW futures are up 10 to 12 cents across most contracts. KC HRW futures are 6 to 7 cents higher so far on Monday. MPLS spring wheat is up 3 to 4 cents at midday.
Monday morning’s Export Inspections report showed 518,141 MT (19.04 mbu) of wheat shipped in the week of 4/16. That was 90.19% above the week prior and 1.55% larger than the same week last year. The Philippines was the largest destination of 96,000 MT, with 91,030 MT shipped to Mexico and 57,799 MT to Indonesia. The marketing year total is now 21.491 MMT (790 mbu) of soybeans shipped since June 1, which is 14% below the same period last year.
Commitment of Traders data showed money managers adding 1,633 contracts to their net short position in CBT wheat at 7,266 contracts as of Tuesday. In KC wheat futures and options, specs added 1,316 contracts to their net long to 16,924 contracts.
May 26 CBOT Wheat is at $6.01 3/4, up 10 1/2 cents,
Jul 26 CBOT Wheat is at $6.10 1/2, up 11 1/4 cents,
May 26 KCBT Wheat is at $6.43 3/4, up 7 cents,
Jul 26 KCBT Wheat is at $6.56 1/4, up 6 1/4 cents,
May 26 MIAX Wheat is at $6.56 3/4, up 3 1/2 cents,
Jul 26 MIAX Wheat is at $6.74 1/4, up 4 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.
