IKAR in Mass Media

Afternoon Rally For Wheat Market

02 ноября 2022 года

Wheats started the first trade day of the new month with weakness attempting a turnaround Tuesday.

Afternoon strength pushed the board back into the black to extend the gains from Monday. CBT SRW ended the day the strongest with 1.6% to 2.3% gains. WTD Dec SRW has rallied 8.8%, and is back above the $9 mark for the close for the first time since 10/11. KC HRW futures ended the session with 0.99% to 1.26% gains in the front months. MPLS spring wheat prices settled Tuesday 0.87% to 0.96% higher.

IKAR estimated the Russian 22/23 wheat crop at 101 MMT with 50 MMT of exportable supply.

Buenos Aries Grains Exchange left their Argentine wheat forecast for 22/23 wheat at 15.2 MMT. Argentina is set to permit delayed wheat exports on contract citing the drought concerns.

Dec 22 CBOT Wheat closed at $9.02 1/2, up 20 1/4 cents,
Mar 23 CBOT Wheat closed at $9.19, up 19 3/4 cents,
Cash SRW Wheat was $8.33 1/8, up 18 1/8 cents,
Dec 22 KCBT Wheat closed at $9.90, up 11 1/4 cents,
Cash HRW Wheat was $9.48 7/8, up 11 cents,
Dec 22 MGEX Wheat closed at $9.89 3/4, up 8 1/2 cents,

https://barchart.com/

Source: barchart.com | #grain | Comments: 0 Views: 2

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