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Grain Market Rally on Friday to Compensate for Weekly Losses in Wheat Prices

Wheat markets surged across all three exchanges on Friday, with Chicago SRW futures climbing by 17 to 18 cents daily. Despite a slight decline during the week, July contracts moved back above their previous levels. Similarly, Kansas City HRW contracts experienced a 17 to 18 cents increase.

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Wheat complex surged at all three exchanges on Friday; Chicago SRW futures increased by 17 to 18...
Wheat complex surged at all three exchanges on Friday; Chicago SRW futures increased by 17 to 18 cents, and despite a weekly decline, July contracts regained a positive trend. Similarly, Kansas City HRW contracts soared by 17 to 18 cents as well.

Grain Market Rally on Friday to Compensate for Weekly Losses in Wheat Prices

Jump on board the trading train with over 30 million users worldwide who have chosen Plus500, including you! Get trading futures as low as $100 today. Now, let's dive into the latest happenings in the wheat complex.

Friday's Rally

The wheat complex experienced a rally on Friday across three exchanges. Specifically:

  • Chicago SRW futures ascended 17 to 18 cents, with July}'s small decline throughout the week.
  • Kansas City HRW contracts gained 17 to 18 cents at the close, with July's losses limited to 8 1⁄2 cents for the week.
  • Minneapolis spring wheat futures increased 13 to 14 cents, ending the week with July down a mere dime.

In addition, managed money shaved off 6,561 contracts from their large net short position in Chicago wheat futures and options, leaving a net short of 94,011 contracts by Tuesday. The same pattern was observed in Kansas City wheat, with 3,064 contracts trimmed from the large net short, leaving 74,964 contracts by June 10th.

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French Soft Wheat Crop

The French soft wheat crop was given a 70% good/excellent rating, according to FranceAgriMer estimates, improving by 1 point in the week.

July 25 CBOT Wheat Prices

  • July 25 CBOT Wheat closed at $5.43 3/4, climbing 17 1/4 cents.
  • September 25 CBOT Wheat closed at $5.59 1/4, registering an increase of 17 1/2 cents.

Separate Score for Kansas City and Minneapolis Wheat

  • Jul 25 KCBT Wheat closed at $5.40 3/4, escalating by 18 cents.
  • Sep 25 KCBT Wheat closed at $5.55, ticking up 17 1/2 cents.
  • Jul 25 MGEX Wheat closed at $6.34 1/4, inching 13 1/2 cents upward.
  • Sep 25 MGEX Wheat closed at $6.45 1/4, boosting 13 1/2 cents.

The Bottom Line

  • Trading futures as low as $100 with Plus500 today and join the millions of traders worldwide who have reaped the benefits.
  • Keep an eye on supply and demand dynamics, global market trends, and weather conditions affecting wheat-producing regions to better predict market movements.
  • As always, consult Plus500's website disclosure policy for more information.

Technology can play a significant role in analyzing market trends for wheat futures, helping traders make informed decisions. In the realm of sports, virtual trading platforms like Plus500 can be compared to a competitive sports game, where strategy and knowledge are crucial for success.

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