Wheat Joins in on Thursday Strength
Wheat futures rose Thursday, supported by gains across other grains. CBOT soft red wheat Dec 25 closed at $5.14¾ (+5½¢), Mar 26 at $5.32½ (+5¢). KC HRW Dec 25 at $4.99 (+3½¢), Mar 26 at $5.20 (+3¼¢). MGEX spring wheat Dec 25 closed $5.61½ (+3½¢), Mar 26 $5.80¼ (+3¢). Saudi Arabia issued a 420,000 MT hard wheat tender.
The wheat complex joined in the on the gains across the grains on Thursday. CBT soft red wheat futures were 5 to 6 cents in the green on Thursday. KC HRW futures were up 3 to 4 cents on the day. MPLS spring wheat futures took back Wednesday weakness, with gains of 3 to 4 cents.
Some spillover support from gains in the other grains was supportive to the wheat complex.
Export Sales data was not released this morning due to the government shutdown. Saudi Arabia issued a tender for 420,000 MT of hard wheat, with offers due on Friday.
Dec 25 CBOT Wheat closed at $5.14 3/4, up 5 1/2 cents,
Mar 26 CBOT Wheat closed at $5.32 1/2, up 5 cents,
Dec 25 KCBT Wheat closed at $4.99, up 3 1/2 cents,
Mar 26 KCBT Wheat closed at $5.20, up 3 1/4 cents,
Dec 25 MGEX Wheat closed at $5.61 1/2, up 3 1/2 cents,
Mar 26 MGEX Wheat closed at $5.80 1/4, up 3 cents .
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Source : BarChart
