Wheat Prices Surge, Despite Bearish Bets
Update: 2025-11-26
Description
Wheat prices surged across major markets on Tuesday, with Chicago SRW futures gaining four to five cents, Kansas City HRW futures up five to six cents, and Minneapolis spring wheat futures, particularly December contracts, jumping twelve and a quarter cents. Despite this, large investors increased their short positions in wheat futures and options, betting on prices going down. Export sales for wheat were strong, with over six hundred thirteen thousand metric tons sold, a twenty-one point seven eight percent increase from the same week last year. A South Korean importers request for ninety thousand metric tons of wheat from the US and Canada could further impact demand. The Russian wheat crop for 2022 is estimated at eighty-six to ninety-one million metric tons, while EU wheat exports are slightly behind last years pace. Markets will be closed on Thursday for Thanksgiving.
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