Wheat Continuing Higher Trade on Wednesday Morning

Austin Schroeder Barchart Wed Oct 2, 7:34AM CDT
Rising wheat prices in Europe due to the Russia and Ukraine conflict

Wheat is extending its strength into the Wednesday session, with each of the three markets up. Futures put on a rally across all three exchanges on Tuesday. Chicago SRW futures were up 11 ½ to 16 cents across the board at the close. KC HRW contracts closed with gains of 14 1/2 to 16 3/4 cents on the day. MPLS spring wheat posted gains of 9 ¾ to 13 cents at the close.

Crop Progress data indicated that the winter wheat crop was 39% planted, with emergence at 14%, both 1% ahead of the average pace. 

EU exports were tallied at 6.14 MMT by the European commission from July 1 to September 29, which is a drop of 2.14 MMT from the same period last year. A Ukrainian farmers association reported 3 MMT in grain shipments from the country in September, a 16% drop from last year, with 2.34 MMT of that wheat.

Dec 24 CBOT Wheat  closed at $5.99, up 15 cents, currently up 7 1/4 cents

Mar 25 CBOT Wheat  closed at $6.19 1/2, up 15 1/4 cents, currently up 7 1/2 cents

Dec 24 KCBT Wheat  closed at $5.98 1/4, up 14 1/2 cents, currently up 7 3/4 cents

Mar 25 KCBT Wheat  closed at $6.13 1/2, up 15 1/4 cents, currently up 7 1/2 cents

Dec 24 MGEX Wheat  closed at $6.34 3/4, up 13 cents, currently up 4 1/4 cents

Mar 25 MGEX Wheat  closed at $6.56 1/4, up 13 cents, currently up 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. For more information please view the Barchart Disclosure Policy here.