Wheat futures are extending the Friday bounce into the new week with double digit follow through so far on Monday. CBT SRW futures are trading 11 3/4 to 14 1/4 cents higher. Midday HRW futures are up 7 1/2 to 11 1/4 cents so far. Spring wheat prices are 8 to 11 1/2 cents in the black.Â
USDA’s weekly Export Inspections data showed 239,907 MT of wheat shipments for the week that ended 4/13. That was a 150k MT drop from last week and was a 206k MT lighter volume than the same week last year. The report also included a 52k MT HRW shipment to Ethiopia via late reporting, which brought the full year’s total to 17.489 MMT. That is still 595k MT behind last year’s export pace.Â
Both Poland and Hungary have blocked Ukrainian grain exports through their countries through June 30th following domestic protests. The remainder of the EU actively opposes the move.Â
May 23 CBOT Wheat  is at $6.92 1/4, up 9 3/4 cents,
Jul 23 CBOT Wheat  is at $7.03, up 10 1/2 cents,
Cash SRW Wheat  is at $6.36 3/4, up 9 3/4 cents,
May 23 KCBT Wheat  is at $8.84 1/2, up 5 3/4 cents,
Cash HRW Wheat  is at $8.41 1/8, up 7 3/8 cents,
May 23 MGEX Wheat  is at $8.85, up 8 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.
