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Austin Schroeder

Wheat Bulls Extending Higher on Tuesday

The wheat complex is starting off September with gains. Chicago SRW contracts are up 9 to 10 cents on the day. There were another 9 deliveries overnight against Sep CBT wheat. KC HRW futures are 7 to 16 ½ cents higher so at midday. There were 60 delivery notices for September KC wheat overnight. MPLS spring wheat is 13 to 16 cents in the green so far on the day.

Over the weekend, Turkey was reportedly pushing for a Black Sea shipping corridor to help restore the flow of grains, which have been limited. The Russian foreign ministry has rejected and attack moratorium.

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