Wheat futures are up double digits through Thursday’s midday. CBT SRW is gaining 13 1/4 to 14 cents so far. KC HRW futures are up 14 3/4 to 18 cents in the front months. Spring wheat prices in MPLS are trading 13 1/4 to 24 cents higher at midday.
USDA’s weekly Export Sales report had 249,923 MT of wheat sold for the week that ended 7/28. That was within the 200-500k MT expected, but nearer the low end. White wheat was the top seller for the week with over half of the total. HRW also had 1/3 of the total. Total commitments for white wheat were 68.07 mbu as of 7/28, compared to the WASDE forecast of 170 mbu. HRW commitments were 35.9% of the forecasted total. All wheat export shipments were marked at 288,415 MT for a season’s total export of 2.49 MMT. That is the slowest start to the export season on record beginning 1990.
Sep 22 CBOT Wheat is at $7.81, up 17 1/4 cents,
Dec 22 CBOT Wheat is at $8.00 1/4, up 16 3/4 cents,
Cash SRW Wheat is at $7.28 7/8, up 16 3/4 cents,
Sep 22 KCBT Wheat is at $8.56, up 20 1/2 cents,
Cash HRW Wheat is at $8.09 3/8, up 20 1/2 cents,
Sep 22 MGEX Wheat is at $8.93 1/2, up 18 1/4 cents,
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