Wheat futures ended the day session with double digit gains during the session. Chicago wheat prices were 19 3/4 to 20 3/4 cents higher, with May up by 25 1/2 to above $11 ahead of Friday’s expiration. KC wheat futures went home with 21 1/2 to 25 1/2 cent gains. May was 18 cents higher and expires on Friday. Spring wheat futures closed with 33 1/2 to 42 1/2 cent gains on the day. July wheats closed at a new LoC high of $12.58 per bushel.
Trader estimates for wheat export sales range from 25k to 125k MT for old crop delivery and from 0 to 350k MT for new crop delivery.
The Rosario Grains Exchange figures Argentina’s 22/23 wheat crop as 19 MMT, compared to 21 MMT during the current MY.
The Refinitiv Commodities Research team forecasted the Ukrainian wheat output as 23.4 MMT for the 22/23 season. If realized it would be their lightest output since 13/14 and down from 33 MMT this year.
Cash SRW Wheat was $10.53 1/1, up 21 1/4 cents,
Jul SRW Wheat closed at $11.13, up 20 1/4 cents,
Cash HRW Wheat was $11.54 1/2, up 25 1/2 cents,
Jul HRW Wheat closed at $12.00 1/2, up 25 1/2 cents,
Sep 22 MGEX Wheat closed at $12.51 3/4, up 38 1/4 cents,
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