Wheat Easing Back Lower on Thursday
The wheat complex is weaker across the board on the Thursday session. CBT soft red wheat futures are down 3 to 4 cents so far on Thursday. KC HRW futures are down 4 to 5 cents on Thursday. MPLS spring wheat futures are trading with 1 to 2 cent losses at the midday portion of the session
The weekly Export Sales report from this morning was reported at 377,459 MT, which was again on the lower end of the trade estimates looking for between 300,000 MT and 650,000 MT in the week of 9/11. That was a 3-week high and still 53.23% above the same week in 2024.
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A South Korean mill importer purchased 30,000 MT of US wheat this overnight. Coveral estimates the EU and UK combined wheat crop at 147.4 MMT, an increase of 4.3 MMT from their previous number in June.
Dec 25 CBOT Wheat is at $5.25, down 3 1/4 cents,
Mar 26 CBOT Wheat is at $5.43, down 3 1/4 cents,
Dec 25 KCBT Wheat is at $5.11 3/4, down 4 1/2 cents,
Mar 26 KCBT Wheat is at $5.33 1/4, down 4 cents,
Dec 25 MGEX Wheat is at $5.73, down 1 cent,
Mar 26 MGEX Wheat is at $5.92 1/2, down 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.
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