Wheat Back to Mixed Action on Thursday
The wheat complex is mixed on Thursday across the three exchanges, as the winter wheats are weaker. CBT soft red wheat futures are fractionally mixed at midday. KC HRW futures are down 2 to 3 cents so far on the day. MPLS spring wheat futures are steady to 2 cents higher.
The suspended Export Sales report was expected to show wheat sales in the range of 350,000 to 600,000 MT for the week ending on October 2. The data will be released at some point in the futures, though the shutdown is preventing that.
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The Rosario Grains Exchange estimates the Argentina wheat crop for 2025/26 at 23 MMT, vs. the 20 MMT previous estimate. 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% this year.
Dec 25 CBOT Wheat is at $5.08, up 3/4 cent,
Mar 26 CBOT Wheat is at $5.24 3/4, down 1/2 cent,
Dec 25 KCBT Wheat is at $4.90 1/2, down 2 3/4 cents,
Mar 26 KCBT Wheat is at $5.12, down 3 cents,
Dec 25 MGEX Wheat is at $5.56 1/4, up 3/4 cent,
Mar 26 MGEX Wheat is at $5.76 1/2, up 1 1/4 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.
