IKAR in Mass and Industry Media

Afternoon Rally For Wheat Market

barchart.com

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

Afternoon Rally For Wheat Market

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/story/news/11248595/afternoon-rally-for-wheat-market

02.11.22

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