Wheat Easing Back Lower on Friday AM Trade
Wheat is giving back some of the Thursday gains, with contracts down across the winter wheat months and higher in spring wheat. The wheat complex closed Thursday with the three major exchanges holding higher. CBT soft red wheat futures were up 1 to 2 cents to close out the day. KC HRW futures posted 2 to 3 cent gains on Thursday. MPLS spring wheat saw some mixed trade, with September down ¾ cent and Decembre up a penny.
USDA’s Export Sales total from Thursday morning showed a total of 519,752 MT in wheat bookings in the week ending on August 14. That was a 5-week low, down 28.1% from last week, but still 5.5% above last year in the same week. The lead buyer was Mexico at 119,500 MT, with 90,500 MT sold to South Korea.
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Taiwan purchased 90,200 MT of wheat from the US in a tender on Thursday. The International Grains Council increased their outlook for the 2025/26 world wheat output by 3 MMT to 811 MMT. Consumption was increased by 2 MMT, as stocks were trimmed by 1 MMT to 264 MMT.
Sep 25 CBOT Wheat closed at $5.07, up 1 1/2 cents, currently down 1 1/4 cents
Dec 25 CBOT Wheat closed at $5.29 3/4, up 1 1/2 cents, currently down 1 1/2 cents
Sep 25 KCBT Wheat closed at $5.03 1/4, up 2 1/2 cents, currently down 1 cent
Dec 25 KCBT Wheat closed at $5.26, up 2 3/4 cents, currently down 1 1/4 cents
Sep 25 MGEX Wheat closed at $5.69 1/4, down 3/4 cent, currently up 1/4 cent
Dec 25 MGEX Wheat closed at $5.90, up 1 cents, currently up 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.
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