The wheat complex is rallying across all three markets on Thursday. Chicago SRW futures are 18 to 21 cents higher on Friday. KC HRW futures are trading 18 to 19 cents higher across most contracts. MPLS spring wheat are up 13 to 16 ½ cents so far on the day. Short covering is being noted on Friday as February rounds out.
Weekly Export Sales for the week of 2/19 has the export commitment total at 22.998 MMT, 14% ahead of the same period last year. That is 94% of USDA’s export estimate and slightly behind the 96% average pace.
The French soft wheat crop is estimated at 84% good/excellent, down 4 percentage points from the week prior according to the FranceAgriMer.
Mar 26 CBOT Wheat is at $5.92 1/2, up 20 3/4 cents,
May 26 CBOT Wheat is at $5.93, up 18 1/2 cents,
Mar 26 KCBT Wheat is at $5.70, up 18 1/2 cents,
May 26 KCBT Wheat is at $5.81 1/4, up 19 cents,
Mar 26 MIAX Wheat is at $6.00, up 16 1/2 cents,
May 26 MIAX Wheat is at $6.12 1/4, up 13 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.
