Wheats Gaining Double Digits

So far for Friday, front month wheat futures are trading back in the black. CBT wheat is 11 1/2 to 13 1/2 cents in the black so far. KC HRW is gaining back 8 to 8 3/4 cents. Minneapolis prices are 9 to 12 1/4 cents in the black so far for Friday. 

USDA’s weekly Export Sales data showed 133,183 MT were sold during the week that ended 2/3. That was split between 84.7k for old crop and 48.4k MT for new crop delivery. The trade was looking for at least 100k MT for old crop going in. Wheat shipments were reported 380,935 MT. That left the MYTD export program at 12.83 MMT through 2/3. That aligns with 58% of the USDA’s updated forecast for the season. Commitments were up to 79% if the new forecasted 810 mbu as of 2/3 with 637.4 mbu. 

Japan is on the market for 80k MT of feed wheat, and 100k MT of feed barley. Bangladesh is tendering for 50k MT of wheat. Syria is seeking 200k MT of wheat. 

Mar 22 CBOT Wheat  is at $7.84 1/4, up 12 3/4 cents,

Cash SRW Wheat  is at $7.35 7/8, down 10 5/8 cents,

Mar 22 KCBT Wheat  is at $8.08, up 7 cents,

Cash HRW Wheat  is at $7.89, up 7 cents,

Mar 22 MGEX Wheat  is at $9.53, up 10 3/4 cents,