Wheat Posts Strength on Tuesday
The wheat markets posted gains across the three exchanges to close out Tuesday. Chicago SRW futures were up 3 1/4 to 3 3/4 cents as the session settled on Election Day. KC HRW contracts were fractionally to 5 3/4 cents higher across board. MPLS spring wheat was up 2 1/2 to 5 1/2 cents on the day.
Census export data showed all wheat shipments at 2.453 MMT (90.14 mbu) during September. That was slightly above the export total in August and 33.3% above last year.
Egypt’s GASC purchased a total of 290,000 MT of wheat in their tender, with 120,000 MT Romanian, 120,000 Ukrainian, and 50,000 MT Bulgarian. Japan is tendering for 121,790 MT of wheat from Australia, Canada, and the US, with 71,712 MT US specific. South Korea also issued a tender for 100,000 MT of wheat split 50,000 MT each from the US and Australia
Dec 24 CBOT Wheat closed at $5.72 1/2, up 3 3/4 cents,
Mar 25 CBOT Wheat closed at $5.91, up 3 1/2 cents,
Dec 24 KCBT Wheat closed at $5.76 3/4, up 5 3/4 cents,
Mar 25 KCBT Wheat closed at $5.89, up 5 1/4 cents,
Dec 24 MGEX Wheat closed at $6.10 1/2, up 5 1/2 cents,
Mar 25 MGEX Wheat closed at $6.32 1/4, up 5 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.