Wheats Gaining Double Digits

Thursday wheat trading has the market double digits higher through midday. Chicago futures are 22 to 27 cents higher. KC wheats are gaining 16 to 17 1/2 cents. Spring wheats are working with midday gains of 9 1/2 to 16 1/4 cents. 

USDA reported the weekly wheat export sale was 236,857 MT. That was near the low end of estimates going into the report and down 18% yr/yr. Half of the sale was HRW, followed by white wheat with 23%. SRW and spring wheat mostly split the remainder. Brazil was listed as the week’s top buyer, though 50k of their 28k purchase was previously reported as Switzerland. Mexico was the largest buyer with 58k MT of the total. USDA reported the week’s export at 370,137 MT – with HRW again marking ~ half the total. Accumulated shipments through the first full week and 2 days reached 582,159 MT, a 33% lead yr/yr. 

The European Commission reported wheat exports reached 25.9 MMT through 6/12. That is up 2.7% from last year’s pace with the last half month to their season. 

Jul 22 CBOT Wheat  is at $10.77 1/4, up 27 1/4 cents,

Cash SRW Wheat  is at $10.18 3/8, up 27 3/8 cents,

Jul 22 KCBT Wheat  is at $11.50 1/2, up 17 1/4 cents,

Cash HRW Wheat  is at $11.02 1/4, up 17 5/8 cents,

Jul 22 MGEX Wheat  is at $12.11 1/2, up 10 1/4 cents,

Sep 22 MGEX Wheat  is at $12.12 3/4, up 11 1/4 cents,