Midday wheat futures are double digits higher led by the KC market. Front month HRW futures are trading with gains of as much as 30 cents so far, enough to flip the market back to net higher for the week’s move. CBT SRW futures are up by 10 1/2 to 12 3/4 cents so far. Spring wheat prices are gaining 21 1/4 to 23 1/2 cents at midday.
USDA’s weekly Export Sales report showed 135,680 MT of wheat bookings for the week that ended 4/6. USDA also had 67.8k MT of new crop sales for the week – with 40k MT of SRW. Old crop commitments were at 671.5 mbu as of 4/6, which is 86% of the USDA forecast.
May 23 CBOT Wheat is at $6.81 1/4, up 14 1/4 cents,
Jul 23 CBOT Wheat is at $6.90 1/4, up 14 1/4 cents,
Cash SRW Wheat is at $6.24 1/2, up 13 3/4 cents,
May 23 KCBT Wheat is at $8.73 1/2, up 28 1/4 cents,
Cash HRW Wheat is at $8.29 1/1, up 27 3/8 cents,
May 23 MGEX Wheat is at $8.71 3/4, up 22 1/4 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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