Wheats Gain Double Digits on Wednesday

Updates from the War in Ukraine led traders to add back in risk premium in the wheat markets on Wednesday. The Chicago futures closed 8 to 11 cent gains. KC wheat prices were 19 to 25 cents higher on the day. Spring wheat futures were 19 to 21 cents higher at the close.

Census data had 63.92 mbu of wheat exports for July. That was a 51% increase from June and was a 19% increase from July 22. Accumulated exports trail last years pace by 4.5% through the first two months with 106.15 mbu.

South Korea is on the market for 95k MT of US or Canadian wheat via tender.