AM wheat quotes are trading with double digit gains into Thursday’s day session. Minneapolis wheat futures were held back by rapid planting progress on Wednesday, while the winter wheats found afternoon strength. At the close front month HRS futures were down 3 1/4 to 13 cents. That completed the monthly move for July with a 23 3/4 cent loss. CBT SRW futures were a penny to 3 1/4 cents higher on Wednesday, with the July having firmed up over 20 cents from the session low. Through the month, July SRW dropped 39 1/2 cents. KC wheat futures were fractionally to 6 3/4 cents higher at the bell. That left the July HRW contract at a net 14 1/4 cent gain for the month of May.
The weekly Export Sales data will be delayed until tomorrow in recognition of Memorial Day.
The European Commission marked the season’s wheat export at 28.4 MMT through 5/28, up 11% from last year’s pace.
Russian data claimed 12 MMT of wheat stocks on May 1st, which was double the 5-yr average.
Jul 23 CBOT Wheat closed at $5.94 1/4, up 3 1/4 cents, currently up 14 3/4 cents
Sep 23 CBOT Wheat closed at $6.08, up 2 1/2 cents, currently up 14 1/4 cents
Cash SRW Wheat was $5.30 1/1, down 1/2 cent,
Jul 23 KCBT Wheat closed at $7.90 1/2, up 6 3/4 cents, currently up 14 1/4 cents
Cash HRW Wheat was $7.59 3/8, up 5/8 cent,
Jul 23 MGEX Wheat closed at $7.80, down 13 cents, currently up 9 1/2 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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