The wheat complex is trading with gains across the three exchanges on Thursday. Chicago SRW futures are up 8 to 9 cents at midday. There were 20 deliveries issued against December CBT wheat overnight. KC HRW contracts are showing 9 to 10 cent gains so far on the day. MPLS spring wheat is up 8 to 9 cents at midday, with exception to December.
The weekly Export Sales report showed 378,232 MT in all wheat sales in the week of 11/28, on the lower end of the trade’s 250,000 and 550,000 MT estimates but up 3.12% from the previous week. Mexico was the buyer of 151,900 MT, with 136,000 MT sold to South Korea.
Census data was updated this morning, showing all wheat shipments during October at 1.42 MMT (52.3 mbu). That was down 42% from September but up 37.76% from last year and a 4-year high for the month.
Stats Canada data showed the country’s wheat production totaling 34.958 MMT, just shy of the 35.04 MMT estimated but up 6.1% from last year’s total. Spring wheat was slightly above the expected total at 26.07 MMT.
Japan purchased a total of 111,405 MT of wheat in their weekly tender from the US, Australia, and Canada, with 56,945 MT US specific.
Dec 24 CBOT Wheat is at $5.35 1/2, down 2 1/2 cents,
Mar 25 CBOT Wheat is at $5.57 1/4, up 9 cents,
Dec 24 KCBT Wheat is at $5.37 1/2, up 9 3/4 cents,
Mar 25 KCBT Wheat is at $5.51 1/2, up 9 cents,
Dec 24 MGEX Wheat is at $5.68 1/2, down 1/2 cent,
Mar 25 MGEX Wheat is at $5.97 3/4, up 8 1/4 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.
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