Wheat Reverts Higher on Wednesday
The wheat complex showed gains across major exchanges on Wednesday. Chicago SRW futures rose by 1¼ to 5½ cents, while KC HRW contracts increased by 3 to 5¾ cents. MPLS spring wheat recovered by 1¼ to 4¾ cents. As of October 13, winter wheat planting was 64% complete, slightly behind the average pace, with emergence at 35%. FranceAgriMer projected a drop in French soft wheat stocks to 2.51 MMT.
The wheat complex posted gains across the three exchanges to close out Wednesday. Chicago SRW futures were up 1 1/4 to 5 1/2 cents on the day. KC HRW contracts were 3 to 5 3/4 cents higher on the session. MPLS spring wheat saw a recovery of 1 ¼ to 4 ¾ cents.
Crop Progress data showed the winter wheat planting pace at 64% complete as of October 13, which is 2% back of the average pace. Emergence was pegged at 35% , vs. the 5-year average pace of 38%.
The FranceAgirMer expects the French soft wheat stocks to total 2.51 MMT, a 0.24MMT drop from last month
Dec 24 CBOT Wheat closed at $5.85, up 5 1/2 cents,
Mar 25 CBOT Wheat closed at $6.05 1/4, up 4 1/2 cents,
Dec 24 KCBT Wheat closed at $5.88 3/4, up 5 3/4 cents,
Mar 25 KCBT Wheat closed at $6.03 1/2, up 4 3/4 cents,
Dec 24 MGEX Wheat closed at $6.20 3/4, up 4 1/2 cents,
Mar 25 MGEX Wheat closed at $6.42 3/4, up 4 3/4 cents .
Source Link : https://www.barchart.com/story/news/29073801/wheat-reverts-higher-on-wednesday
