The midday wheat market is showing 3 to 6 cent gains across the domestic classes. SRW is trading nearly a dime off the earlier highs, but still 3 to 5 1/2 cents in the black. HRW futures are up 5 3/4 to 6 3/4 cents so far, but March is 7 cents below the session high. MPLS Spring wheat pris are working with midday gains of 2 3/4 to 5 1/4 cents so far.
Weekly inspections data had 445,433 MT of wheat shipments for the week that ended 1/26. That was a weekly increase of 96,040 MT and was up by 67k MT from the same week last year. USDA showed nearly half of the total was spring wheat followed by 117k MT of HRW. Japan was the top destination. The weekly report had 13.222 MMT of wheat shipments for the season through 1/26, compared to 13.616 MMT last year.
Mar 23 CBOT Wheat is at $7.53 1/2, up 3 1/2 cents,
May 23 CBOT Wheat is at $7.63, up 4 1/4 cents,
Cash SRW Wheat is at $6.99 1/8, up 3 1/4 cents,
Mar 23 KCBT Wheat is at $8.76 1/2, up 7 1/4 cents,
Cash HRW Wheat is at $8.41 1/8, up 7 cents,
Mar 23 MGEX Wheat is at $9.24, up 2 1/2 cents,
On the date of publication, Alan Brugler 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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