Wheat Back to Weakness at Midday
The wheat market is trading with losses on Thursday. Chicago SRW futures are down 6 to 7 cents at the midday part of the session. KC HRW futures are 6 cents in the red at midday. MPLS spring wheat is trading with fractional to 2 cent losses so far.
USDA’s Export Sales report will be out on Friday AM, with traders looking for 300,000 and 600,000 MT in wheat bookings during the week of 2/13. New crop sales are seen between 0-50,000 MT.
Taiwan importers purchased a total of 102,450 MT US wheat in their tender on Thursday morning. Japan’s weekly tender saw purchases of 96,160 MT of wheat on Thursday from the US. Canada, and Australia, with 34,890 MT US specific.
International Grains Council data was released on Thursday morning showing world wheat production up 1 MMT to 797 MT, as stocks were down 1 MMT on increased consumption at 264 MMT.
Mar 25 CBOT Wheat is at $5.85 1/2, down 6 1/2 cents,
May 25 CBOT Wheat is at $6.00, down 6 1/2 cents,
Mar 25 KCBT Wheat is at $6.07 3/4, down 6 cents,
May 25 KCBT Wheat is at $6.20 1/4, down 6 cents,
Mar 25 MGEX Wheat is at $6.32 1/4, down 1 1/4 cents,
May 25 MGEX Wheat is at $6.47 1/2, down 3/4 cent,
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.More news from Barchart
