Wheat is showing marginal gains on Thursday morning. The wheat complex closed out Wednesday on a mixed note, as winter wheat contracts were pulling off the early lows. CBT soft red wheat futures ended the day higher, with fractional gains to 1 ¼ cents. Open interest was up 13,157 contracts on Wednesday. KC HRW futures were down 2 to 3 cents, with buying off the early session lows into the close. Preliminary OI was 6,101 contracts higher on Wednesday. MPLS spring wheat futures held onto the weakness on Wednesday, with losses of 5 to 6 cents.
The next 7 days looks on the drier side for much of the country, with some exceptions in parts of southern NE and northern KS, which may slow some winter wheat planting.
Export Sales data will be delayed from the normal Thursday morning release, as analysts had been looking for 300,000 and 650,000 MT of wheat sold in the week ending on 9/25.
Saudi Arabia issued a tender for 420,000 MT of hard wheat, with offers due on Friday.
Dec 25 CBOT Wheat closed at $5.09 1/4, up 1 1/4 cents, currently up 1 3/4 cents
Mar 26 CBOT Wheat closed at $5.27 1/2, up 1/2 cent, currently up 1 3/4 cents
Dec 25 KCBT Wheat closed at $4.95 1/2, down 2 1/4 cents, currently up 1 1/4 cents
Mar 26 KCBT Wheat closed at $5.16 3/4, down 2 cents, currently up 1 1/4 cents
Dec 25 MGEX Wheat closed at $5.57, down 5 3/4 cents, currently up 1 3/4 cents
Mar 26 MGEX Wheat closed at $5.77 1/4, down 5 3/4 cents, currently up 1 3/4 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.
