Thursday’s wheat prices are 9 1/2to 10 cents higher in the SRW market. KC Wheat futures are currently 12 3/4 to 14 cents so far, with the May contract 56 3/4 cents stronger. Spring wheat contracts are 5 1/4 to 7 3/4 cents higher so far.
USDA’s weekly Export Sales report had 211,053 MT sold for the week that ended 4/27. That was a 35% increase from last week and was 78% above the same week last year. Trader estimates topped out at 250k MT ahead of the report. Mexico was the top buyer for the week. Weekly shipments were 289k MT for a season total of 16.483 MMT. USDA also reported 280k MT of new crop sales, which again were at the top end of estimates. That left the forward book at 1.292 MMT.
An Oklahoma State University crop tour projects the OK wheat crop will reach 54.3 mbu on an average yield of 24.6 bpa according to an Oklahoma Wheat Commission announcement. The Kansas Wheat Tour will begin May 15th through May 18.
May 23 CBOT Wheat is at $6.25 1/4, down 1 cents,
Jul 23 CBOT Wheat is at $6.50 1/4, up 10 1/2 cents,
Cash SRW Wheat is at $5.89 1/1, up 10 5/8 cents,
May 23 KCBT Wheat is at $8.28, up 56 3/4 cents,
Cash HRW Wheat is at $7.68 1/2, up 15 7/8 cents,
May 23 MGEX Wheat is at $7.88 1/2, up 30 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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