Wheat Holding Gains, as we Head into the Weekend
Wheat prices rebounded heading into the weekend, with CBOT, KCBT, and MGEX contracts posting gains. Strong U.S. export demand, a weakening dollar, and tighter Argentine crop estimates supported the rally. France’s harvest is progressing, with improved crop conditions. Market sentiment remains bullish amid global supply concerns and favorable trade dynamics.
Wheat bulls are showing a rebound heading into the weekend, with gains across the board. CBT prices are trading with 14 to 15 cent gains. KC contracts are 13 to 14 cents in the green, and MPLS spring wheat is up 3 to 4 cents higher. The dollar index is giving back some gains from Thursday at midday.
Export commitments so far in the marketing year are 8.259 MMT according to USDA, which was 36% of the balance sheet export projection and ahead of the 35% average pace.
The Rosario Grains Exchange estimates the 2025/26 Argentina wheat crop at 20 MMT, vs. the 20.7 MMT reported last year. FranceAgriMer estimates the French wheat crop at 69% gd/ex, up 1 point from the previous week, with harvest moving along at 71 %, compared to 36% last week.
Sep 25 CBOT Wheat is at $5.48 1/2, up 15 cents,
Dec 25 CBOT Wheat is at $5.68 3/4, up 14 1/2 cents,
Sep 25 KCBT Wheat is at $5.31 1/4, up 13 3/4 cents,
Dec 25 KCBT Wheat is at $5.53 1/4, up 13 1/4 cents,
Sep 25 MGEX Wheat is at $5.98 1/4, up 3 1/4 cents,
Dec 25 MGEX Wheat is at $6.19, up 3 1/4 cents.
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Source : Nasdaq.com
