Ag Valley Coop -

Wheat Futures Begin Wednesday in Plus Column

Alan Brugler - Barchart - Wed May 05, 12:26PM UTC

Related Stocks

ZWN21 - Wheat

Sym	Last	Chg	Pct
ZWN21	645-0s	+16-2	+2.58%
KEN21	617-4s	+5-0	+0.82%
MWK24	691-0s	+12-0	+1.77%

Wednesday wheat futures trading is 2 to 5 cents higher thus far. CBT wheat futures ended Tuesday 8 1/2 to 11 1/2 cents in the black. May contracts closed at $7.37/bu with 708 contracts still open as of 5/4. KC wheat futures closed 8 1/2 to 11 1/4 cents higher. There were 34 contracts of May KC still open as of 5/4. Spring wheat futures ended the Tuesday session 7 1/4 to 10 1/4 cents higher. May HRS had 40 contracts of OI remaining as of 5/3.

Official March wheat exports were reported at 2.15 MMT (78.87 mbu). Census data confirmed that was a 4-yr high for the month of March and brought the season’s total to 21.415 MMT (786.8 mbu). March wheat shipments to China were a 25 year high.

Private analyst SovEcon raised their forecast for Ukrainian wheat production by 400k MT to 28.6 MMT. That would be a record output and up from 24.9 MMT in 2020/21 if realized.

Cash SRW Wheat was $6.98 ¼ on Tuesday, up 8 1/4 cents,

Jul 21 CBOT Wheat closed at $7.26 3/4, up 8 3/4 cents, and is up 2 1/2 this morning

Cash HRW Wheat was $6.70 on Tuesday, up 11 1/8 cents,

Jul 21 KCBT Wheat closed at $6.99 1/4, up 10 3/4 cents, and is up 2 1/4 this morning

Jul 21 MGEX Wheat closed at $7.68 1/4, up 9 1/2 cents, and is up 4 3/4 this morning

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