Wheat Rallying from Early Losses
Wheat is rallying on Wednesday across the three markets. Chicago SRW wheat is showing 10 to 13 cent gains on Wednesday. There was 1 contract issued against CBT wheat overnight. KC HRW contracts are uo 8 to 10 cents at Wednesday’s midday. There were 129 deliveries against KC wheat overnight. MPLS spring wheat is mostly 15 to 16 cents higher so far on Wednesday
USDA will release their weekly Export Sales report on Thursday, with traders surveyed by Reuters looking for between 200,000 and 600,000 MT of wheat sold in the week of June 26.
Earlier today, President Trump announced a trade deal with Vietnam, stating the country is charging no tariffs on US goods. Nearly 3% of all US wheat export commitments for 2024/25 were for Vietnam.
Jul 25 CBOT Wheat is at $5.50, up 12 3/4 cents,
Sep 25 CBOT Wheat is at $5.59 3/4, up 10 3/4 cents,
Jul 25 KCBT Wheat is at $5.20 1/2, up 9 3/4 cents,
Sep 25 KCBT Wheat is at $5.39 1/4, up 8 cents,
Jul 25 MGEX Wheat is at $598.25 1/9, down 12 cents,
Sep 25 MGEX Wheat is at $6.44 1/4, up 15 3/4 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.