The wheat complex is reverting from early weakness to post marginal midday gains. Chicago SRW futures are fractionally to 2 cents higher. KC HRW futures is showing 1 to 3 cent gains at midday. MPLS spring wheat is fractionally higher.
The next 7 days are expected to remain dry from the western part of KS, to the panhandle of TX according to the NOAA 7-day QPF. SRW area is still expected to see 1 to 3 inches.
French soft wheat exports outside the EU are estimated at 7.1 MMT according to the FranceAgriMer, with shipments within the EU expected to total 7.7 MMT, a 0.13 MMT increase from the week prior. French ending stocks are estimated at 3.31 MMT, a 0.8 MMT drop from the previous number.
May 26 CBOT Wheat is at $5.93 3/4, up 1 3/4 cents,
Jul 26 CBOT Wheat is at $6.01 3/4, up 1/2 cent,
May 26 KCBT Wheat is at $6.25 1/2, up 2 3/4 cents,
Jul 26 KCBT Wheat is at $6.37 3/4, up 1 1/2 cents,
May 26 MIAX Wheat is at $6.38 1/4, up 1/4 cent,
Jul 26 MIAX Wheat is at $6.52 1/4, up 1/4 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. For more information please view the Barchart Disclosure Policy here.
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