The wheat complex is pushing higher so far on Thursday. Chicago SRW futures are 3 to 4 ¼ cents higher on the day. KC HRW futures are up 6 to 7 cents in the front months. MPLS spring wheat is up 1 to 2 cents at midday.
Weekly Export Sales from this morning showed 397,245 MT in wheat bookings in the week of March 19, on the high end of trade estimates of 100,000 to 400,000 MT. That was more than double the week prior and nearly 4 times the same week last year. New crop sales exceeded estimates of 0 to 200,000 MT, at 205,750 MT, which was a slight drop from last week.
March Intentions data will be out on Tuesday, as traders are looking for 44.79 million acres of wheat this year, down 544,000 acres from a year ago if realized.
May 26 CBOT Wheat is at $6.02, up 4 1/4 cents,
Jul 26 CBOT Wheat is at $6.12 1/4, up 3 1/2 cents,
May 26 KCBT Wheat is at $6.24 3/4, up 7 cents,
Jul 26 KCBT Wheat is at $6.39, up 6 cents,
May 26 MIAX Wheat is at $6.42, up 1 1/4 cents,
Jul 26 MIAX Wheat is at $6.56 1/4, up 2 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.
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