Wheat Showing Modest Friday Gains
Wheat are getting some help from a sharply lower US dollar index, as contracts are up across the three exchanges. Chicago SRW futures are up 2 to 5 cents on the day. Kansas City HRW contracts are 2 to 5 cents higher. MPLS spring wheat is up 5 to 7 cents.
The French wheat crop is estimated a 50% good to excellent according to the latest release from the FrenchAgriMer. Harvest was listed at 67% complete, up 26 percentage points from the 41% last week.
The Russian wheat export tax has been dropped by 51% to 444.4 rubles per ton, as of August7.
Sep 24 CBOT Wheat is at $5.36 1/2, up 4 1/2 cents,
Dec 24 CBOT Wheat is at $5.60 1/4, up 3 1/2 cents,
Sep 24 KCBT Wheat is at $5.58 3/4, up 4 1/4 cents,
Dec 24 KCBT Wheat is at $5.74 1/2, up 3 3/4 cents,
Sep 24 MGEX Wheat is at $5.93 3/4, up 5 1/4 cents,
Dec 24 MGEX Wheat is at $6.13 3/4, up 5 3/4 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.