The wheat complex is trading with contracts higher across the three markets at midday. CBT soft red wheat futures are posting 8 to 9 cent gains in across most contracts on Tuesday. KC HRW futures are rallying, with 9 to 10 cents in the nearbys. MPLS spring wheat futures are down 3 to 4 cents across the front months.
Crop Progress data from NASS showed the US spring wheat crop at 94% harvested, which is 2% faster than normal. The winter wheat crop was listed at 11% planted, vs. the 13% 5-year average pace.
The French wheat crop is estimated at 33.3 MMT according to the country’s Farm Ministry, a 0.2 MMT increase from last month’s estimate. The European Commission pegs the EU wheat exports at 3.78 MMT from July to September 14, down 1.95 MMT from the same period last year.
Dec 25 CBOT Wheat is at $5.33 1/2, up 8 1/2 cents,
Mar 26 CBOT Wheat is at $5.51 1/4, up 8 1/2 cents,
Dec 25 KCBT Wheat is at $5.23 1/4, up 9 1/4 cents,
Mar 26 KCBT Wheat is at $5.44 1/4, up 9 1/2 cents,
Dec 25 MGEX Wheat is at $5.75 1/2, up 3 3/4 cents,
Mar 26 MGEX Wheat is at $5.96, up 3 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
