Following the turnaround Tuesday session wheat prices are back on the rise for midweek. CBT wheat futures are up 3 3/4 to 5 1/2 cents so far. KC wheat futures are firmer with a penny to 1 3/4 cent gains. New crop HRW is up 7 cents in Sep ’22. MPLS wheat futures are trading higher through midday, with gains of 2 1/2 to 4 1/2 cents. Dec is down by a penny.
Egypt’s GASC purchased 360k MT of wheat via tender. That was reportedly split 180k Russian, 120k MT Ukrainian, and 60k MT Romanian.
Russia reported 44m HA of wheat had been harvested – or 93.5% of area as of 10/23. Production was tallied at 118.5 MMT before drying. USDA’s October forecast was to see Russia’s 21/22 wheat crop at 72.5 MMT.
Dec 21 CBOT Wheat is at $7.56, up 3 3/4 cents,
Cash SRW Wheat is at $7.06 5/7, up 4 cents,
Dec 21 KCBT Wheat is at $7.78, up 3/4 cent,
Cash HRW Wheat is at $7.56 2/5, up 1 cents,
Dec 21 MGEX Wheat is at $10.19 1/2, down 2 cents,
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