Wheat Posting Midday Gains
The wheat complex is showing slight gains on Thursday, as export sales backed off this week. CBT soft red wheat futures are up 1 to 2 cents so far. KC HRW futures are showing gains of 4 t0 5 cents so far on Thursday. MPLS spring wheat is trading with 3 to 4 cent gains at midday.
USDA’s Export Sales total from this morning showed a total of 519,752 MT in wheat bookings in the week ending on August 14, on the low side of trade estimates looking for 500,000 to 800,000 MT. That was a 5-week low, down 28.1% from last week, but still 5.5% above last year in the same week.
Taiwan purchased 90,200 MT of wheat from the US in a tender on Thursday. Sovecon estimates the Russian wheat crop at 85.4 MMT, a slight 0.2 MMT increase from the previous number on better crops in Siberia and Urals.
Sep 25 CBOT Wheat is at $5.07 1/4, up 1 3/4 cents,
Dec 25 CBOT Wheat is at $5.30, up 1 3/4 cents,
Sep 25 KCBT Wheat is at $5.05 1/4, up 4 1/2 cents,
Dec 25 KCBT Wheat is at $5.28, up 4 3/4 cents,
Sep 25 MGEX Wheat is at $5.73, up 3 cents,
Dec 25 MGEX Wheat is at $5.93, 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.