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Barchart
Barchart
Austin Schroeder

Wheat Bulls Starting Friday Morning with Gains

Chicago SRW KC HRW

Wheat is trading 3 to 8 cent gains across the three markets on Friday. The wheat complex slipped back on Thursday, with contracts marginally lower. Chicago SRW contracts saw nearby losses of 1 to 3 cents on the day. Open interest was up 6,265 contracts on Thursday. KC HRW futures posted front month losses of 2 to 3 ½ cents on the day. MPLS spring wheat posted gains of 2 to 3 cents on Thursday.

The weekly USDA Export Sales report from Thursday showed just 235,102 MT of wheat was sold in the week ending July 9. That was the lowest for the new marketing year to date, and less than half of the same week last year. Japan was the buyer of 66,600 MT, with 45,100 MT sold to Mexico.

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