Wheat Futures Market News and Commentary
Overnight wheat trades have all three US markets higher by 2 to 6 cents. Winter wheat futures went home on Tuesday with losses, though of less than a penny. For SRW the board was 1/4 cent lower at the bell, with a 1/2 cent gain in July ’22’s new crop. HRW futures were down by 1/4 to 3/4 cents on the day. Spring wheat prices added 2 3/4 to 6 1/2 cents to their up-swing. December got to within 3 1/4 cents of a new LOC high during the session.
IHS Markit estimated the 2022 spring wheat area for the US will be 12.7m acres. That would be up from 11.4 million this season. Their winter wheat estimate is 34.153m for a 505,000 acre boost.
Ukraine’s Ag Ministry reported winter wheat planting at 75% of expected area through 10/18.
Dec 21 CBOT Wheat closed at $7.36, down 1/4 cent, up 5 ¾ this morning
Cash SRW Wheat was $6.85 8/9 yesterday, down 1/8 cent,
Dec 21 KCBT Wheat closed at $7.48 1/4, down 3/4 cent, up 2 ½ this morning
Cash HRW Wheat was $7.25... Read more