Wheat Rallies Double Digits on Tuesday
Wheat put on a rally across all three exchanges on Tuesday. Chicago SRW futures were up 11 ½ to 16 cents across the board at the close. KC HRW contracts closed with gains of 14 1/2 to 16 3/4 cents on the day. MPLS spring wheat posted gains of 9 ¾ to 13 cents at the close.
Crop Progress data indicated that the winter wheat crop was 39% planted, with emergence at 14%, both 1% ahead of the average pace.
EU exports were tallied at 6.14 MMT by the European commission from July 1 to September 29, which is a drop of 2.14 MMT from the same period last year. A Ukrainian farmers association reported 3 MMT in grain shipments from the country in September, a 16% drop from last year, with 2.34 MMT of that wheat.
Dec 24 CBOT Wheat closed at $5.99, up 15 cents,
Mar 25 CBOT Wheat closed at $6.19 1/2, up 15 1/4 cents,
Dec 24 KCBT Wheat closed at $5.98 1/4, up 14 1/2 cents,
Mar 25 KCBT Wheat closed at $6.13 1/2, up 15 1/4 cents,
Dec 24 MGEX Wheat closed at $6.34 3/4, up 13 cents,
Mar 25 MGEX Wheat closed at $6.56 1/4, up 13 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.