The wheat complex is showing lower trade as we head through the midday session, backing off from the early morning strength. Chicago SRW futures are down 1 to 2 cents at midday. KC HRW is showing 2 to 3 cent lower trade. MPLS spring wheat is 2 to 4 cents lower on the session so far.
Thursday morning will show the weekly Export Sales report from FAS, with analysts expecting to see between 300,000 and 650,000 MT of 2024/25 wheat sales for the week of September 12. Sales for 2025/26 are estimated to be 0 to 50,000 MT in that week.
The FranceAgriMer expects to see French soft wheat exports to all destinations outside the EU at 4 MMT, down 3.5 MMT from last month’s number, with shipments within EU countries seen down 0.5 from a month ago to 6 MMT. With a smaller production total, stocks are expected to drop to 2.74 MMT, down 0.3 MMT form the previous estimate.
Dec 24 CBOT Wheat is at $5.74 1/4, down 1 1/2 cents,
Mar 25 CBOT Wheat is at $5.93 3/4, down 1 3/4 cents,
Dec 24 KCBT Wheat is at $5.77 1/2, down 2 1/2 cents,
Mar 25 KCBT Wheat is at $5.91, down 2 cents,
Dec 24 MGEX Wheat is at $6.17, down 4 cents,
Mar 25 MGEX Wheat is at $6.39 1/4, down 2 1/2 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
