The wheat complex is holding higher on Friday across most contracts. Chicago SRW contracts are up 1 to 2 1/2 cents on the day. KC HRW futures are trading with fractionally mixed trade. MPLS spring wheat is steady to 1 ½ cents higher.

Despite the reports of potential peace talks, another merchant vessel was struck overnight in the Black Sea. Russia also struck Kyiv with more missiles overnight. 

USDA’s Export Sales report showed 10.77 MMT of accumulated export commitments for wheat, down 32% from last year. That is 53% of the USDA forecast and behind the 5-year average pace at 63%. 

A South Korean mill is tendering for 50,000 MT of US wheat, with offers due today. The FranceAgriMer estimates the country’s wheat crop at 45% planted by October 19, ahead of the 42% pace from last year.

Dec 26 CBOT Wheat  is at $6.27 1/4, up 2 1/2 cents,

Mar 27 CBOT Wheat  is at $6.39 1/4, up 1 1/2 cents,

Dec 26 KCBT Wheat  is at $6.66 1/2, up 3/4 cent,

Mar 27 KCBT Wheat  is at $6.76, down 1/4 cent,

Dec 26 MIAX Wheat  is at $6.43 1/4, up 1 1/2 cents,

Mar 27 MIAX Wheat  is at $6.60 1/2, up 1/2 cent,

On the date of publication, Austin Schroeder 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.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.