Wheat futures continuing this week’s run, with all three exchanges higher at midday. Chicago SRW futures are up 2 to 5 3/4 cents, with Kansas City HRW contracts 3 to 6 ¼ cents higher so far. MPLS spring wheat futures are 4 to 9 ¼ cents in the green at midday.
Wheat export bookings for the week that ended on March 9 are expected to be in the range of 75,000-500,000 MT for old crop in the Thursday morning Export Sales report. New crop estimates are running 0-150,000 MT.
Commitment of Traders data updated as of February 28th showed spec traders increasing their CBT wheat net short position by 19,596 contracts to 91,641 contracts. In KC, they slashed 15,637 contracts from their net long to just 337 contracts as of that date. KC spot futures plunged more than 88 cents per bushel during that long liquidation.
May 23 CBOT Wheat is at $7.01 3/4, up 5 1/2 cents,
Jul 23 CBOT Wheat is at $7.12 1/2, up 5 3/4 cents,
Cash SRW Wheat is at $6.50 3/4, up 5 1/2 cents,
May 23 KCBT Wheat is at $8.22 1/2, up 4 3/4 cents,
Cash HRW Wheat is at $7.86 3/4, up 4 3/8 cents,
May 23 MGEX Wheat is at $8.56 3/4, up 6 3/4 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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