VoxGeorge
Oct 29, 10:54 PM
$DBA 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.
https://www.barchart.com/story/news/8541595/wheat-gets-a-thursday-bounce-on-export-news
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