Thursday Wheat Trading Works Higher

Part way into Thursday’s session, wheat is up by as much as 12 cents in the spring wheat market. Midweek wheat trading mostly worked prices lower, but went home off their lows. Spring wheat futures rallied back into the black for the closing bell, ending the day up by 2 to 4 1/2 cents in the front months. SRW futures closed with 9 1/2 to 11 cent losses on the day. KC HRW went home with front month losses of 6 to 6 3/4 cents. 

Weekly Export Sales estimates show analysts expect between 200,000 and 550,000 MT of wheat was sold during the week that ended 7/28. 

The European Commission saw an 11% increase yr/yr for July wheat exports to non-EU nations. Morocco remains the top destination with 430k MT of the 1.84 MMT shipped MYTD. 

Sep 22 CBOT Wheat  closed at $7.63 3/4, down 11 cents, currently up 4 cents

Dec 22 CBOT Wheat  closed at $7.83 1/2, down 10 1/2 cents, currently up 4 cents

Cash SRW Wheat  was $7.11 on Wednesday, down 12 1/8 cents,

Sep 22 KCBT Wheat  closed at $8.35 1/2, down 6 3/4 cents, currently up 4 cents

Cash HRW Wheat  was $7.89 7/8 on Wednesday, down 6 3/4 cents,

Sep 22 MGEX Wheat  closed at $8.75 1/4, up 2 cents, currently up 8 3/4 cents