Wheat Popping Higher on Wednesday
The wheat complex is showing mostly higher trade across most contracts on Wednesday. Chicago SRW futures are 3 to 4 cents higher across most contracts. There were another 2 deliveries issued against December CBT wheat futures overnight. KC HRW contracts are 2 to 3 cents higher on the day. MPLS spring wheat is 1 to 3 cents higher so far.
The weekly Export Sales report is expected to show between 275,000 and 600,000 MT of 2024/25 wheat bookings in the week that ended on December 5. Another 0-50,000 MT is estimated for 2025/26 sales.
The monthly WASDE report showed US wheat ending stocks were down 20 mbu to 795 mbu due to a larger export total. World stocks were 0.31 MMT higher at 257.88 MMT.
Dec 24 CBOT Wheat is at $5.42, up 3/4 cent,
Mar 25 CBOT Wheat is at $5.65, up 3 1/4 cents,
Dec 24 KCBT Wheat is at $5.59 1/2, up 10 1/4 cents,
Mar 25 KCBT Wheat is at $5.68, up 2 1/4 cents,
Dec 24 MGEX Wheat is at $5.82 1/4, unch,
Mar 25 MGEX Wheat is at $6.07 3/4, up 1 1/4 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.