Wheat Posting Friday Morning Strength

AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Wheat Posting Friday Morning Strength July 19, 2024 — 10:11 am EDT Written by Alan Brugler for Barchart-> Wheat prices are higher to kick off your Friday morning. Futures were mixed on Thursday, with the winter wheat exchanges providing the weakness and spring wheat some strength. Chicago futures were down 2 ¾ to 4 cents across the board. MPLS spring wheat led the way higher, up 3 ¼ to 8 ¾ cents. Kansas City contracts were in the middle with front months up ¾ to 1 ¾ cents and deferreds fractionally lower.The weekly Export Sales report from FAS showed a total of 578,502 MT of wheat during the week of July 11. That was on the high end of the 225,000 to 600,000 MT range of estimates and more than double the week prior. South Korea bought 119,000 MT, with Mexico 92,700 MT in sales.An updated look at the balance sheet from the International Grains Council projections shows the world wheat production up 8 MMT mo/mo at 801 MMT, with stocks expected to rise a similar amount to 269 MMT. Chinese Customs data showed 1.2 MMT of wheat imports during June from all origins, a sizeable 44% increase vs. the previous year. Their calendar year to date imports are up 16% at a reported 9.3 MMT. Sep 24 CBOT Wheat closed at $5.35 1/4, down 4 cents, currently up 8 3/4 centsDec 24 CBOT Wheat closed at $5.60, down 3 1/2 cents, currently up 9 centsSep 24 KCBT Wheat closed at $5.62 3/4, up 1 3/4 cents, currently up 6 1/4 centsDec 24 KCBT Wheat closed at $5.79, up 1 1/2 cents, currently up 6 centsSep 24 MGEX Wheat closed at $6.00 1/2, up 8 3/4 cents, currently up 8 centsDec 24 MGEX Wheat closed at $6.20 1/4, up 8 3/4 cents, currently up 8centsOn the date of publication, Alan Brugler 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. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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