Wheat Posts Positive Start to the Week
Wheat futures closed higher on Monday across all exchanges. Chicago SRW, KC HRW, and MPLS spring wheat posted gains between 3 ½ to 5 ¾ cents. U.S. winter wheat planting reached 51%, slightly behind average, with 25% emerged. Weekly export inspections hit 363,460 MT, driven by shipments to South Korea and Japan, with overall exports up 34.6% year-on-year.
The wheat complex closed higher across the exchanges on Monday. Chicago SRW futures were up 3 ½ 5 ¼ cents across board to close out the day. KC HRW contracts were 4 ¾ to 5 ½ cents higher on the session. MPLS spring wheat settled the Monday session with 4 ¼ to 5 ¾ cent gains.
Crop Progress data showed 51% of the US winter wheat crop planted, 1% behind the average pace. Emergence was pegged at 25%, on pace with normal.
Wheat export inspections totaled 363,460 MT (13.35 mbu) in the week that ended on October 3. That was 18.75% above the same week last year, but down 34.03% from the week prior. The largest destination was South Korea at 85,348 MT, with 78,653 MT headed to Japan. Accumulated shipments have totaled 8.61 MMT (316.44 mbu), which is 34.6% above the same period in the previous marketing year.
Dec 24 CBOT Wheat closed at $5.92 1/2, up 2 3/4 cents,
Mar 25 CBOT Wheat closed at $6.16 1/2, up 3 3/4 cents,
Dec 24 KCBT Wheat closed at $6.03 1/4, up 5 1/4 cents,
Mar 25 KCBT Wheat closed at $6.20, up 5 1/2 cents,
Dec 24 MGEX Wheat closed at $6.44 1/4, up 5 3/4 cents,
Mar 25 MGEX Wheat closed at $6.65 1/2, up 5 1/2 cents.
Source Link : https://www.barchart.com/story/news/28927028/wheat-posts-positive-start-to-the-week
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