Wheat Closes Mixed, as Winter Wheat Continues Under Pressure

The wheat complex was mixed on Thursday, as the winter wheats continue to grind lower. CBT soft red wheat futures were down fractionally to 1 ¼ cents on the day. KC HRW futures were down 3 to 4 cents on the day. MPLS spring wheat futures were 1 to 2 cents higher to close the day.

Weather remains dry for the heart of winter wheat country over the next week.

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Expana increased their EU wheat production estimate by 0.3 MMT to 136.4 MMT. Russia’s deputy ag minister stated the country expects to cut back winter and spring wheat area by 6.2% this year, with acres shifting to oilseeds.

Dec 25 CBOT Wheat  closed at $5.06 1/2, down 3/4 cent,

Mar 26 CBOT Wheat  closed at $5.24, down 1 1/4 cents,

Dec 25 KCBT Wheat  closed at $4.89 3/4, down 3 1/2 cents,

Mar 26 KCBT Wheat  closed at $5.11 1/4, down 3 3/4 cents,

Dec 25 MGEX Wheat  closed at $5.57, up 1 1/2 cents,

Mar 26 MGEX Wheat  closed at $5.77 1/4, up 2 cents,