The wheat complex is in rally mode across the three exchanges on Friday, led by the winter wheats. Chicago SRW futures are 11 to 13 cents in the green at midday. KC HRW futures are up 13 to 14 cents. MPLS spring wheat is fractionally to a penny higher so far.
Freezing temps and very little snow cover in parts of HRW country may be adding some premium ahead of the weekend.
USDA Export Sales data was delayed until this morning, with 618,076 MT of wheat sold in the week ending on January 15. That exceeded trade expectations looking for between 150,000 and 450,000 MT in that week. That was also a 9-week high and more than triple the same week last year.
Mar 26 CBOT Wheat is at $5.28 1/4, up 12 3/4 cents,
May 26 CBOT Wheat is at $5.38, up 11 1/2 cents,
Mar 26 KCBT Wheat is at $5.39 1/2, up 13 3/4 cents,
May 26 KCBT Wheat is at $5.49 1/4, up 13 1/4 cents,
Mar 26 MIAX Wheat is at $5.74 1/4, up 1/2 cent,
May 26 MIAX Wheat is at $5.86 1/4, up 1 cent,
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.
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