Wheat is up across the three markets on Thursday morning. The wheat market was in retreat mode late on Wednesday. CBT soft red wheat futures were steady to down a penny at the close. Preliminary open interest data was down 5,686 contracts on Wednesday. KC HRW futures fell back by 3 to 4 3/4 cents on the session. MPLS spring wheat futures closed the day with contracts off the highs and near unchanged in the nearbys and as much as a penny higher in other contracts.
The weekly USDA Export Sales data is expected to show between 300,000 MT and 600,000 MT of wheat sales in the week ending on September 18.
Russia’s wheat crop is estimated at 87.5 MMT according to the latest estimate from IKAR, up 0.5 MMT from the previous number.
Dec 25 CBOT Wheat closed at $5.19 1/2, down 1 cent, currently up 5 ½ cents
Mar 26 CBOT Wheat closed at $5.38, down 1 cent, currently up 5 ½ cents
Dec 25 KCBT Wheat closed at $5.06 3/4, down 4 3/4 cents, currently up 5 ¼ cents
Mar 26 KCBT Wheat closed at $5.28 1/4, down 4 1/4 cents, currently up 5 ¼ cents
Dec 25 MGEX Wheat closed at $5.68 3/4, unch, currently up 4 cents
Mar 26 MGEX Wheat closed at $5.88 3/4, unch, currently up 8 ¾ cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
