
The wheat complex is seeing some strength across all three exchanges so far on Wednesday. Chicago SRW futures are up 4 to 5 cents on the day. KC HRW contracts are 2 to 3 cents higher. MPLS spring wheat is trading with 5 to 6 cent gains.
Ahead of the weekly Export Sales report from FAS, the trade is estimating 2024/25 sales totaling between 300,000 and 600,000 MT. Sales for 2025/26 are expected to total 0 to 75,000 MT.
Russian wheat exports are expected to be 45.9 MMT for the 2024/25 marketing year, down from the 1.7 MMT in the previous estimate from SovEcon.
Dec 24 CBOT Wheat is at $5.75 1/2, up 5 cents,
Mar 25 CBOT Wheat is at $5.95 1/4, up 4 3/4 cents,
Dec 24 KCBT Wheat is at $5.77 1/4, up 3 cents,
Mar 25 KCBT Wheat is at $5.91, up 2 1/2 cents,
Dec 24 MGEX Wheat is at $6.12 1/2, up 6 cents,
Mar 25 MGEX Wheat is at $6.35 1/4, up 5 1/4 cents,
On the date of publication, Austin Schroeder 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.