Wheat Market Sees Gains Amid Strong Export Sales
Midday Update on Wheat Futures Across Major Markets
On Friday, the wheat market is experiencing midday gains. Chicago SRW futures have risen by 4 to 5 1/2 cents. Meanwhile, KC HRW contracts are up by 3 to 4 cents across nearby months. Additionally, MPLS spring wheat futures show an increase of 1 to 3 cents for the day.
New data from the delayed Export Sales report revealed total wheat sales of 612,408 metric tons (MT) during the week of December 19. This figure surpasses trade estimates, which ranged from 250,000 to 600,000 MT, and marks the highest sales total in 25 weeks. Notably, this week’s sales were 33.73% higher than those of the previous week, with Mexico purchasing 132,400 MT.
Mar 25 CBOT Wheat is quoted at $5.46 1/2, reflecting an increase of 5 1/2 cents.
May 25 CBOT Wheat is priced at $5.56 1/2, an uptick of 4 1/2 cents.
Mar 25 KCBT Wheat stands at $5.54 3/4, gaining 3 1/4 cents.
May 25 KCBT Wheat has reached $5.63, up by 3 1/2 cents.
Mar 25 MGEX Wheat is at $5.96 1/2, increasing by 2 1/2 cents.
May 25 MGEX Wheat is priced at $6.03 1/4, up by 1 cent.
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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
