The wheat complex is continuing strength on Thursday, with contracts higher across the three exchanges. Chicago SRW futures are 3 to 4 cents higher so far. KC HRW futures are 3 to 4 cents in the green on Thursday. MPLS spring wheat is up 5 to 6 cents at midday
Export Sales data released this morning showed wheat sales for the week ending on January 22 at 558,201 MT, on the high end of 275,000 and 600,000 MT estimates. That was back down from last week but 22.39% above the same week last year.
Monthly Census trade data totaled 1.616 MMT (59.4 mbu) during November, a 5-year high for the month.
The European Commission estimates EU wheat production at 134.2 MMT, down 0.2 MMT from last month. Ending stocks are up 1.3 MMT, with exports 1.5 MMT lower to 29.5 MMT.
Mar 26 CBOT Wheat is at $5.39, up 3 cents,
May 26 CBOT Wheat is at $5.48 1/4, up 3 3/4 cents,
Mar 26 KCBT Wheat is at $5.46, up 3 3/4 cents,
May 26 KCBT Wheat is at $5.56 3/4, up 4 cents,
Mar 26 MIAX Wheat is at $5.79 3/4, up 5 3/4 cents,
May 26 MIAX Wheat is at $5.92 1/4, up 6 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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