Wheat Posts Modest Gains on Thursday
Wheat futures saw a price increase in the Thursday session, with Chicago SRW up 5-7 cents, Kansas City HRW up 5-8 cents, and MPLS spring wheat up 6-7 cents. The USDA Export Sales report showed 286,598 MT of wheat sold, on the lower end of estimates. Japan purchased 119,145 MT of corn, with 57,575 MT from the US, and Taiwan bought 105,650 MT of US wheat. CBOT Wheat closed at $5.32, up 4 3/4 cents.
Wheat futures closed out the Thursday session with contracts getting a fresh first of the month pop. Chicago SRW futures were up 5 to 7 cents on the day. Kansas City HRW contracts were 5 to 8 cents higher. MPLS spring wheat was up 6 to 7 cents.
The weekly Export Sales report from USDA showed 286,598 MT of wheat sold for the current marketing year in the week of July 24. That was on the lower end of the 250,000 to 550,000 MT estimates.
Japan’ weekly MOA tender saw the country purchase 119,145 MT of corn from the three usual suspects, Australia, Canada, and the US, with 57,575 MT originating from the latter. There was an additional tender from Taiwan overnight, buying 105,650 MT of US wheat.
Sep 24 CBOT Wheat closed at $5.32, up 4 3/4 cents,
Dec 24 CBOT Wheat closed at $5.56 3/4, up 4 3/4 cents,
Sep 24 KCBT Wheat closed at $5.54 1/2, up 5 1/2 cents,
Dec 24 KCBT Wheat closed at $5.70 3/4, up 5 cents,
Sep 24 MGEX Wheat closed at $5.88 1/2, up 7 cents,
Dec 24 MGEX Wheat closed at $6.08, up 7 cents,
On the date of publication, Alan Brugler 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.
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