The wheat complex posted higher trade on Monday, with contracts seeing gains across the three markets. Chicago SRW futures were up 5 to 6 cents on Monday. KC HRW futures were 6 to 7 cents in the green on the day. MPLS spring wheat was 2 cents higher.
Export Inspections data showed wheat shipments at 627,443 MT (23.05 mbu) shipped in the week that ended on December 18. That was an increase of 28.2% from the week prior and up 46.79% from same week last year. Mexico was the top destination of 98,816 MT, with 73,777 MT to Japan, 69,201 MT to Thailand, and 68,559 MT to China. Marketing year shipments have totaled 14.75 MMT (542.1 mbu), a 22.89% hike yr/yr.
Export Sales data from this morning showed 381,532 MT of wheat sold in the week ending on 12/4. That was on the lower side of analysts looking for between 300,000-600,000 MT in wheat sales. While it was below the week prior, it was still 31.46% above the same week last year.
Another update to the Export Sales report will be out Tuesday for the week of December 11, with traders looking for wheat sales in a range of 300,000-600,000 MT.
Algeria has issued a tender for 50,000 MT of durum wheat.
Mar 26 CBOT Wheat closed at $5.15 1/2, up 5 3/4 cents,
May 26 CBOT Wheat closed at $5.26 1/4, up 5 3/4 cents,
Mar 26 KCBT Wheat closed at $5.21 1/4, up 6 cents,
May 26 KCBT Wheat closed at $5.34, up 6 1/4 cents,
Mar 26 MGEX Wheat closed at $5.80, up 2 cents,
May 26 MGEX Wheat closed at $5.91 1/2, up 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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