Wheats Up Another Double Digits So Far

Wheat prices are extending the recent swing higher with midday gains. CBT futures are up 8 ¼ to 12 ½ cents so far. Kansas City contracts are trading 8 ½ to 13 cents in the black at midday. Spring wheat futures are adding 9 to 11 ¾ cents to the upside through midday.  

Wheat export sales from the week ending 9/16 came in at 355,906 MT. That was down on the week, but up 1% yr/yr. Wheat exports during the same week were marked at 507,905 MT. That was even on the week and up by 8% yr/yr. Total wheat exports still lag 2020/21’s pace by 16% with 6.84 MMT shipped MYTD.  

Taiwan purchased 49,580 MT of US origin wheat in a tender on Thursday. No announcement has been made on Japan’s tender for 113,067 MT of wheat. Pakistan importers purchased an estimated 575,000 MT of wheat in their recent tender of 500,000 MT. 

Dec 21 CBOT Wheat  is at $7.18 1/4, up 12 1/2 cents, 

Cash SRW Wheat  is at $6.62 1/5, up 12 1/2 cents, 

Dec 21 KCBT Wheat  is at $7.19 1/4, up 13 1/4 cents, 

Cash HRW Wheat  is at $6.92 5/7, up 13 1/8 cents, 

Dec 21 MGEX Wheat  is at $9.16 1/4, up 12 3/4 cents,