Wheat Market Trading Higher into Tuesday
After a mostly higher overnight trade, the SRW market is gaining and back near the overnight nights. The hard red markets are fractionally mixed so far into the day session. The wheat markets posted double digit gains to begin the month, erasing some of Friday’s massive sell off. CBT futures closed 17 ¼ to 23 ¼ cents higher with 4% gains in the Dec contract. KC wheat ended up by 11 to 13 cents, with a 1.9% gain in Dec. HRS futures in Minneapolis was 6 to 9 ½ cents higher on the day.
NASS reported winter wheat was 40% planted as of 10/1. That was up 14% points for the week and trails the average pace by 3% points. NASS cited emergence at 15%, which was 1% point behind the average pace.
Weekly Inspections data had 397,594 MT of wheat exports for the week that ended 9/28. That was down 88k MT wk/wk and was 40% below the same week last year.
Dec 23 CBOT Wheat closed at $5.64 3/4, up 23 1/4 cents, currently up 5 cents
Mar 24 CBOT Wheat closed at $5.96, up 22 1/2 cents, currently up 3 1/4 cents
Cash SRW Wheat was $4.82 5/8, up 27 1/2 cents,
Dec 23 KCBT Wheat closed at $6.76 3/4, up 13 cents, currently down 1/4 cent
Cash HRW Wheat was $6.13 1/4, up 26 7/8 cents,
Dec 23 MGEX Wheat closed at $7.18 3/4, up 9 1/2 cents, currently down 1/4 cent
Source Link: https://www.barchart.com/story/news/20786307/wheat-market-trading-higher-into-tuesday
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