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Barchart
Barchart
Austin Schroeder

Wheat Popping Rallying on Thursday

KC HRW MPLS CBOT KCBT MGEX

The wheat complex is rallying across the three markets at midday. KC HRW is showing 10 to 11 cent gains across most nearby contracts at midday. CBT futures are 11 cents higher in the front months on Thursday. MPLS spring wheat is up 6 to 7 ¼ cents across the front months at midday.

USDA showed a total of 737,831 MT of wheat sold in the week ending on July 31, with a heavy focus on HRW (414,312 MT). That exceeded analysts’ estimates of between 350,000 and 600,000 MT and was a MY high.

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