The wheat complex found strength midway through the Thursday session following China rumors and a marketing year high in export business. Chicago SRW contracts were up 1 to 4 ¾ cents. KC HRW futures were 1 ¼ to 2 ¼ cents higher at the close. MPLS spring wheat was up 2 ¾ to 5 cents on the session.

There were wire reports on Thursday of China’s COFCO inquiring on US SRW wheat for import. 

Export Sales data from this morning showed a marketing year high of 846,770 MT of wheat sales in the week ending on 10/22, exceeding the trade range estimates of 200,000 MT to 500,000 MT. That was 70.03% above the same week last year. The Philippines was the top buyer of 2126,300 MR, with 154,000 MT sold to South Korea and 140,000 MT to Indonesia. Bookings for 2027/28 were tallied at 22,000 MT, all to Peru.

Dec 26 CBOT Wheat  closed at $6.03 3/4, up 4 3/4 cents,

Mar 27 CBOT Wheat  closed at $6.17 1/4, up 4 cents,

Dec 26 KCBT Wheat  closed at $6.45 1/4, up 2 1/4 cents,

Mar 27 KCBT Wheat  closed at $6.54 3/4, up 1 1/2 cents,

Dec 26 MIAX Wheat  closed at $6.25 1/2, up 4 3/4 cents,

Mar 27 MIAX Wheat  closed at $6.42 1/4, up 5 cents,

On the date of publication, Austin Schroeder did not directly have a position 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.