The wheat market is showing stronger trade on Tuesday with gains led by the winter wheat contracts. CBT soft red wheat futures are 8 to 9 ¼ cent gains across most nearbys. KC HRW futures are trading with 7 to 8 cent gains across the front months at midday. MPLS spring wheat futures are up 1 to 2 ¼ cents across most contracts on Tuesday.
Crop Progress data showed the US winter wheat crop at 20% planted, down 3 points from average. Emergence was listed at 4%, on par with average. Spring wheat was 96% harvested and matches the 5-year average pace.
The European Commission estimates the EU wheat exports from July 1 to September 21 at 4.12 MMT, a drop from the 6.13 MMT in the year prior. Algeria purchased a chuck of wheat in a tender this morning, though the total purchased amount has yet to be reported.
Dec 25 CBOT Wheat is at $5.20, up 9 1/4 cents,
Mar 26 CBOT Wheat is at $5.38 1/4, up 8 3/4 cents,
Dec 25 KCBT Wheat is at $5.10, up 7 3/4 cents,
Mar 26 KCBT Wheat is at $5.30 3/4, up 7 cents,
Dec 25 MGEX Wheat is at $5.66 1/4, up 2 1/4 cents,
Mar 26 MGEX Wheat is at $5.85 3/4, up 1 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.
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