Wheat Bouncing on the Midweek Session
The wheat complex is seeing a bounce back on Wednesday across the three markets. Chicago SRW futures are up 8 to 12 cents. There were 88 deliveries issued for May futures on FND. Kansas City HRW contracts are posting 4 to 6 cent gains on Wednesday. There were 430 deliveries issued against May KC wheat overnight. MPLS spring wheat is up 4 to 6 cents at midday
Precipitation is expected to make it’s way across parts of the Southern Plains over the next couple days. Another round of showers are forecast for the TX panhandle to western KS into early next week according to NOAA.
Export Sales data will be released on Thursday morning, with US bids still somewhat competitive on the world market.
May 25 CBOT Wheat is at $5.17 1/4, up 11 1/2 cents,
Jul 25 CBOT Wheat is at $5.34, up 8 1/2 cents,
May 25 KCBT Wheat is at $5.20 3/4, up 5 1/2 cents,
Jul 25 KCBT Wheat is at $5.35, up 4 cents,
May 25 MGEX Wheat is at $6.15 1/4, up 10 1/4 cents,
Jul 25 MGEX Wheat is at $5.96 3/4, up 4 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.