The wheat complex is showing strength on Tuesday. Chicago SRW futures are 4 to 7 cents higher on Tuesday. KC HRW futures are 5 to 6 cents in the green on Tuesday. MPLS spring wheat are up 4 to 5 cents at midday. There were no deliveries issued against December CBT wheat overnight, with another 7 against December KC wheat.
Support is coming from threats from Russia threatening to cut off Ukraine from the sea if their attacks on Russian linked vessels continue.
National Crop Progress data is done for the year, but some individual states are still putting reports out. Kansas winter wheat ratings were up 4% to 66% gd/ex, with the Brugler500 index up 2 points to 366
EU exports of wheat have totaled 9.66 MMT from July 1 to November 30, a reduction of 0.48 MMT from last year according to European Commission data. Algeria has issued a tender for 50,000 MT of soft milling wheat with a Wednesday deadline. A South Korean importer purchased a total of 65,000 MT of wheat in a tender overnight.
Dec 25 CBOT Wheat is at $5.36, up 5 3/4 cents,
Mar 26 CBOT Wheat is at $5.41 1/4, up 6 1/4 cents,
Dec 25 KCBT Wheat is at $5.12 1/4, down 4 3/4 cents,
Mar 26 KCBT Wheat is at $5.32 3/4, up 6 cents,
Dec 25 MGEX Wheat is at $5.95, up 15 cents,
Mar 26 MGEX Wheat is at $5.80 1/2, up 4 1/2 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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