Wheat Shrugging Off Early Weakness at Friday’s Midday

The wheat complex is trading with midday gains across the front months on Friday. Chicago SRW futures are steady to 2 cents higher at midday. KC HRW futures ar 4 to 5 cents in the green at midday. MPLS spring wheat futures are down 2 cents in the front month December contract and fractionally higher in others. 

FranceAgriMer data showed 98% of the country’s soft wheat crop in good/excellent condition, with 95% of the crop planted.

Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

 

Monthly International Grains Council data was updated today, with world wheat production up 3 MMT. Consumption was down 1 MMT, with stocks unchanged at 275 MMT.

Dec 25 CBOT Wheat  is at $5.28 1/2, up 1 1/2 cents,

Mar 26 CBOT Wheat  is at $5.41, up 1/4 cent,

Dec 25 KCBT Wheat  is at $5.11, up 4 3/4 cents,

Mar 26 KCBT Wheat  is at $5.26 1/4, up 2 1/2 cents,

Dec 25 MGEX Wheat  is at $5.70 3/4, down 2 cents,

Mar 26 MGEX Wheat  is at $5.81 1/4, up 3/4 cent,