Friday's Gains Indicate Promising Future for Wheat Market

Friday, 8 March 2024, 19:47
The wheat market showed positive movement as futures for winter wheat contracts rose by 7 cents while spring wheat saw a 0.5% increase. Despite a USDA-trimmed export forecast, the market continues to perform well. YTD commitments may be behind the 5-year average pace, but the latest data suggests a favorable trajectory for wheat trading.

Friday Gains for Wheat Market

The midday wheat trade has futures working 7 cents higher in the winter wheat contracts and 0.5% higher in the spring wheat market.

USDA Export Trim and Future Outlook

USDA trimmed expected wheat exports by 15 mbu to 710 mbu in the monthly S&D update.

Commitments YTD have been lagging the 5-year average pace by...

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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