Wheat Holds Higher on the Midweek Session

Austin Schroeder Barchart Wed Aug 20, 4:39PM CDT
Wheat Harvest by Heiko Janowski via Unsplash

The wheat complex saw some strength on Wednesday. CBT soft red wheat futures posted gains of 7 cents in the front months on the session. KC HRW futures saw contracts 1 to 2 cents higher across the nearbys at the close. MPLS spring wheat held on to the gains on Wednesday, with contracts up 1 to 2 cents

US prices are competitive on the world market, and recent Export Sales reports have shown the business. Traders are looking for 500,000 to 800,000 MT of wheat sales in the week that ended on August 14.

Sovecon estimates the Russian wheat crop at 85.4 MMT, a slight 0.2 MMT increase from the previous number on better crops in Siberia and Urals. Syria has issued a tender for 200,000 MT of wheat, due to a lower domestic supply of the crop. 

Sep 25 CBOT Wheat  closed at $5.05 1/2, up 7 cents,

Dec 25 CBOT Wheat  closed at $5.28 1/4, up 7 cents,

Sep 25 KCBT Wheat  closed at $5.00 3/4, up 1 1/4 cents,

Dec 25 KCBT Wheat  closed at $5.23 1/4, up 1 1/2 cents,

Sep 25 MGEX Wheat  closed at $5.70, up 1 1/2 cents,

Dec 25 MGEX Wheat  closed at $5.89, up 1 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.