Wheat Markets Mixed This Morning

Wheat futures are fractionally lower in the Chicago SRW this morning, but up as much as 2 cents in MPLS. KC HRW is hanging around UNCH. Winter wheat futures closed the session with double digits gains in the front months. Chicago SRW closed 7 3/4 to 11 cents in the black. HRW futures rallied 13 to 14 3/4 cents on the first trade day of the week. Spring wheat in Minneapolis closed the day up 3 3/4 to 4 1/2 cents. USDA has winter wheat planting 52% complete as of 10/4. The trade was looking for 48-50%, and the 5-yr average is for 47%. Winter wheat emergence was reported at 24%, compared to the 5-yr average of 21%. The Export Inspections report, with data from the week ending Oct 1, showed 643,671 MT of wheat shipments. That was 56,755 MT above last week’s shipments. The report also showed 9.888 MMT of wheat shipped MYTD, compared to 9 MMT in 2019/20.

--- provided by Brugler Marketing & Management

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