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Barchart
Barchart
Austin Schroeder

Wheat Bulls Get Footing on Thursday, with Double Digit Gains

MPLS CBOT KCBT

The wheat complex bulls gathered up some steam on Thursday, with the three exchanges higher at the close. CBT soft red wheat futures closed with 8 to 10 cent gains on Thursday. KC HRW futures posted Thursday gains of 10 to 12 cents across most contracts on the day. MPLS spring wheat futures pushed higher on Thursday, with contracts up 8 to 10 ¼ cents at the close. General support from in the commodities was noted, with a rally in the crude oil market.

USDA did not release their weekly Export Sales report on Thursday due to the continued government shutdown. Still, traders are looking for between 350,000 and 650,000 MT of wheat was sold in the week ending on 10/16.

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