The wheat complex is showing strength on Wednesday. Chicago SRW futures are 3 to 5 cents higher in the front months so far on the day. KC HRW futures are trading with 9 to 10 cent gains on Wednesday. MPLS spring wheat is up 8 to 9 cents at midday.
The next week looks on the drier side for much of the Plains and HRW country, which is not beneficial to the crop with ratings already spilling. A few spots in SRW country are looking at a wetter pattern in parts of the Eastern Corn Belt.
Weekly Export Sales data will be out on Thursday, with traders looking for sales of 300,000 to 500,000 MT in the week ending last Thursday
May 26 CBOT Wheat is at $5.95, up 5 cents,
Jul 26 CBOT Wheat is at $6.05 3/4, up 3 3/4 cents,
May 26 KCBT Wheat is at $6.13 3/4, up 9 3/4 cents,
Jul 26 KCBT Wheat is at $6.28 3/4, up 9 cents,
May 26 MIAX Wheat is at $6.40, up 8 3/4 cents,
Jul 26 MIAX Wheat is at $6.53 1/2, up 8 1/4 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.
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