Wheat Posts Positive Start to the Week
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,
On the date of publication, Austin Schroeder 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.