Wheat prices are looking to start Friday with another red day, leaving the SRW 25c in the red for the week and KC with new LoC lows. KC wheat fell nearly 2% by the end of Thursday’s trade, leaving the Dec contract 12 ½ cents in the red for the close. Chicago futures fell by 1.2% across the nearby, ending 7 cents weaker. MGE futures were also weaker, ending the session 0.8% to 1% lower.
The weekly wheat export sales were shown at 176,296 MT for the week that ended 11/9. That was a 17 week low and was below the range of pre-report estimates. By class, USDA reported 23k MT were HRW, 21k MT were SRW and 97k MT were HRS. The season’s wheat commitments were 11.89 MMT (437 mbu).
The International Grains Council (IGC) raised estimated world production 2 MMT, with bigger Russian and Turkish crops.
Dec 23 CBOT Wheat closed at $5.53 1/2, down 7 cents, currently down 4 cents
Mar 24 CBOT Wheat closed at $5.81, down 7 cents, currently down 4 cents
Cash SRW Wheat was $4.73 1/1, down 7 cents,
Dec 23 KCBT Wheat closed at $6.27 1/4, down 12 1/2 cents, currently down 7 3/4 cents
Cash HRW Wheat was $5.59 1/1, down 12 1/2 cents,
Dec 23 MGEX Wheat closed at $7.26, down 9 1/4 cents, currently down 3 cents
More Wheat News from Barchart
- Beans Fading on Friday
- Corn Fades into Friday
- Cotton Off Lows for Midday
- Wheat Pushing Lower on Ukrainian Insurance News
