Wheat Pushing Higher on Wednesday

Austin Schroeder Barchart Wed Oct 23, 12:11PM CDT
Wheat field on a beautiful summer day by MadalinCalita via Pixabay

The wheat complex is again shrugging off overnight weakness on Wednesday, as all three markets are back to higher trade. Chicago SRW futures are up 3 to 5 cents on the day. KC HRW contracts are 2 to 3 cents higher so far on the session. MPLS spring wheat is up 2 to 3 cents so far on the day.

After rains in portions of the Southern Plains over the weekend and early in the week, the 7-day QPF from NOAA looks drier for the next week.

Weekly Export Sales data will be out on Thursday morning, with the trade looking for a range of 350,000 to 650,000 MT of 2024/25 sales and 0 to 50,000 MT in 2025/26 sales.

Dec 24 CBOT Wheat  is at $5.80 3/4, up 4 3/4 cents,

Mar 25 CBOT Wheat  is at $6.00, up 3 3/4 cents,

Dec 24 KCBT Wheat  is at $5.88 3/4, up 2 1/4 cents,

Mar 25 KCBT Wheat  is at $6.03 1/4, up 2 1/2 cents,

Dec 24 MGEX Wheat  is at $6.18 3/4, up 2 1/4 cents,

Mar 25 MGEX Wheat  is at $6.40 1/4, up 2 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. For more information please view the Barchart Disclosure Policy here.