Friday’s wheat trade has the board in the black through midday. Futures are 7 cents higher in Chicago, 9 to 18 cents higher in KC, and 10 to 15 1/2cents higher in Minneapolis futures. The May HRS contract is another 39 cents weaker through midday.
There were more delivery notices than expected against May Chicago wheat on FND, 854 to be exact. All but 10 came from SG America’s customers, with no strong hands noted on the receiving end.
Weekly Export Sales data had 155,733 MT of old crop wheat sales for the week that ended 4/20. That was down 40% for the week, but was mid-range compared to pre-report estimates. USDA also reported 202,090 MT of new crop sales. That set the forward book at 1.012 MTM, or 45% of last year’s volume. Old crop commitments, at 686.79 mbu, are 88.6% of the April WASDE’s forecast.
May 23 CBOT Wheat is at $6.20, up 5 1/4 cents,
Jul 23 CBOT Wheat is at $6.37, up 7 3/4 cents,
Cash SRW Wheat is at $5.67 1/2, up 5 1/2 cents,
May 23 KCBT Wheat is at $7.97, up 18 1/4 cents,
Cash HRW Wheat is at $7.34 1/4, up 2 1/8 cents,
May 23 MGEX Wheat is at $7.69, down 39 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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