Wheat is showing slight gains across the front months on Friday morning. The wheat complex was mixed on Thursday, with the winter wheat contracts leading the bulls and spring wheat leading the bears. CBT soft red wheat futures were 3 to 4 cents higher on the Thursday session. KC HRW futures saw fractional gains at the Thursday close. OI was up 1,556 contracts. MPLS spring wheat futures were 1 to 2 cents lower.
The next week is looking to see a drier pattern in the Southern Plains, allowing for planting to continue but limits soil moisture heading into winter. SRW areas are expected to see heavier 1-2 inch totals.
The FranceAgriMer estimates the country’s soft wheat crop at 27% planted as of 10/13, well above the pervious week.
Dec 25 CBOT Wheat closed at $5.02 1/2, up 3 3/4 cents, currently up 3/4 cent
Mar 26 CBOT Wheat closed at $5.18 3/4, up 3 cents, currently up 1 1/4 cents
Dec 25 KCBT Wheat closed at $4.88 3/4, up 1/2 cent, currently up 1/2 cent
Mar 26 KCBT Wheat closed at $5.09, up 1/4 cent, currently up 3/4 cent
Dec 25 MGEX Wheat closed at $5.50 1/2, down 1 1/2 cents, currently up 1 1/2 cents
Mar 26 MGEX Wheat closed at $5.69, down 1 3/4 cents, currently up 2 cents
