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Barchart
Barchart
Austin Schroeder

Wheat Falling on Thursday AM Trade

Wheat is giving some back on Thursday morning, with contracts down across the three markets. The wheat complex was mixed on Wednesday, with winter wheat the strongest. CBT soft red wheat was 2 to 3 ¼ cents higher at the final bell. Open interest suggested short covering, down 4,999 contracts. KC HRW futures were steady to 3 cents higher in the front months on Wednesday.  MPLS spring wheat futures saw weaker trade at the close, with contracts down 1 to 2 cents.

Despite the lack of USDA data release, the trade is looking for wheat export business during the week of October 23 to have totaled 350,000 to 600,000 MT.

 

South Korea mill importers tendered for 40,300 MT of wheat with a Friday deadline.

Dec 25 CBOT Wheat  closed at $5.32 1/4, up 3 1/4 cents, currently down 4 3/4 cents

Mar 26 CBOT Wheat  closed at $5.47 3/4, up 2 cents, currently down 5 3/4 cents

Dec 25 KCBT Wheat  closed at $5.22 3/4, up 2 3/4 cents, currently down 6 1/2 cents

Mar 26 KCBT Wheat  closed at $5.38, unch, currently down 7 1/4 cents

Dec 25 MGEX Wheat  closed at $5.61 1/2, down 1 1/4 cents, currently down 1 1/4 cents

Mar 26 MGEX Wheat  closed at $5.80, down 1 3/4 cents, currently down 1 cent

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