Wheat Holding Steady on Thursday AM Trade
Wheat is showing slightly mixed trade on Thursday morning. The wheat market gave back into the weakness on Wednesday, with all three exchanged fading back. SRW futures were down 8 to 9 cents at the close. KC contracts were 9 to 10 cents in the red at midweek, as contracts failed to hold the Tuesday gains. MPLS spring wheat was back to weaker trade on Wednesday, with losses of 2 to 4 cents.
USDA’s Export Sales report is expected to show between 250,000 and 500,000 MT in wheat sales during the week that ended on July 17.
Day 2 of the spring wheat tour estimated the north central and north west area of North Dakota at 47.1 bpa, which is below the 53.7 bpa average for the same region last year, but above the 42.5 bps 5-year average.
Sep 25 CBOT Wheat is at $5.40 1/2, down 9 cents, currently down 1/2 cent
Dec 25 CBOT Wheat is at $5.61 1/4, down 8 1/4 cents, currently down 1 cent
Sep 25 KCBT Wheat is at $5.23 1/2, down 9 3/4 cents, currently down 1/2 cent
Dec 25 KCBT Wheat is at $5.46, down 9 cents, currently down 3/4 cent
Sep 25 MGEX Wheat is at $5.88, down 3 3/4 cents, currently up 1 1/2 cents
Dec 25 MGEX Wheat is at $6.09 1/2, down 2 1/4 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.