Wheat Rally Continues on Friday
The wheat complex is continued the rally into Friday, with contracts up sharply across the three markets. Chicago SRW futures are up 25 to 28 cents at the close. KC HRW futures are 20 to 27 cents in the green so far on the day. MPLS spring wheat is 18 to 20 cents higher at midday. Crude oil futures are up $10.10 at midday to continue the spillover support.
Export Sales data from Thursday morning has taken export sales commitments to 23.204 MMT, which is 95% of USDA’s estimate near the 97% average sales pace. Shipments are 75% of USDA’s export number at 18.45 MMT, which is ahead of the 72% average pace.
The FranceAgriMer estimates the French wheat crop at 84% good/excellent, matching the rating from the previous week. Durum conditions were steady at 81%.
Mar 26 CBOT Wheat is at $6.08 1/4, up 25 1/2 cents,
May 26 CBOT Wheat is at $6.11 3/4, up 28 cents,
Mar 26 KCBT Wheat is at $5.85 1/4, up 20 cents,
May 26 KCBT Wheat is at $6.19 1/4, up 26 3/4 cents,
Mar 26 MIAX Wheat is at $6.17 3/4, up 9 3/4 cents,
May 26 MIAX Wheat is at $6.39, up 19 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.
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