Wheat Back to Weaker Midday Trade
The wheat complex is feeling pressure across the three exchanges on Thursday. Chicago SRW futures are showing fractional losses across most contracts on Thursday. KC HRW futures are down 1 to 2 cents at midday. MPLS spring wheat us showing 1 to 2 cent losses at midday.
Export Sales from this morning showed wheat bookings at just 156,255 MT, on the low end of the 100,000-450,000 MT estimates for 2025/26 wheat bookings in the week of 1/8. Sales for 2026/27 were net reductions of 26 MT vs. estimates of 0-50,000 MT.
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Saudi Arabia issued a tender to buy 595,000 MT of wheat, with a Friday deadline. A South Korean importer purchased 50,000 MT of US wheat in an overnight tender.
Expana increased their EU wheat production forecast by 0.3 MMT to 128.6 MMT, but also trimmed their export projection by 1.2 MMT to 28.8 MMT.
Mar 26 CBOT Wheat is at $5.12, down 1/2 cent,
May 26 CBOT Wheat is at $5.23, down 3/4 cent,
Mar 26 KCBT Wheat is at $5.20 3/4, down 1 1/2 cents,
May 26 KCBT Wheat is at $5.32, down 1 1/2 cents,
Mar 26 MIAX Wheat is at $5.65, down 2 cents,
May 26 MIAX Wheat is at $5.76 1/2, down 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.
