Wheat Posts Tuesday Gains

The wheat market saw strength on Tuesday, as all three exchanges were higher on Tuesday. CBT soft red wheat futures were 8 to 9 ¾ cents in the green on the day. KC HRW futures posted 8 ½ to 9 ¼ cent gains at the close. MPLS spring wheat futures closed the Tuesday session with contracts up 1 ¾ to 3 ¾ cents.

Crop Progress data showed the US winter wheat crop at 20% planted, down 3 points from average. Emergence was listed at 4%, on par with average. Spring wheat was 96% harvested and matches the 5-year average pace.

The European Commission estimates the EU wheat exports from July 1 to September 21 at 4.12 MMT, a drop from the 6.13 MMT in the year prior. Algeria purchased a chuck of wheat in a tender this morning, though the total purchased amount has yet to be reported.

Dec 25 CBOT Wheat  closed at $5.20 1/2, up 9 3/4 cents,

Mar 26 CBOT Wheat  closed at $5.39, up 9 1/2 cents,

Dec 25 KCBT Wheat  closed at $5.11 1/2, up 9 1/4 cents,

Mar 26 KCBT Wheat  closed at $5.32 1/2, up 8 3/4 cents,

Dec 25 MGEX Wheat  closed at $5.68 3/4, up 3 3/4 cents,

Mar 26 MGEX Wheat  closed at $5.88 3/4, up 3 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. This article was originally published on Barchart.com