Wheat is trading on the lower side of unchanged, with losses across the three exchanges. The wheat markets were trying to pull back to the higher side on Wednesday, though contracts leaked lower at the close. CBT soft red wheat futures were down 1 to 2 cents on the session. Some rotation of ownership was noted with open interest up just 141 contracts. KC HRW futures were fractionally lower at midweek. OI rose 625 contracts on Wednesday. MPLS spring wheat futures saw 2 to 3 cent losses on the day.
The next week is looking to see a drier pattern in the Southern Plains, with light totals moving east and heavier 1-2 inch totals in SRW area.
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USDA will not release their weekly Export Sales report this week (set for Friday due to the Monday holiday) due to the government. Wheat sales are seen at 300,000 to 650,000 MT in the week of October 9.
Dec 25 CBOT Wheat closed at $4.98 3/4, down 1 1/2 cents, currently down 3 cents
Mar 26 CBOT Wheat closed at $5.15 3/4, down 1 cent, currently down 2 3/4 cents
Dec 25 KCBT Wheat closed at $4.88 1/4, down 1/4 cent, currently down 3 1/4 cents
Mar 26 KCBT Wheat closed at $5.08 3/4, down 1/2 cent, currently down 3 cents
Dec 25 MGEX Wheat closed at $5.51, down 2 1/2 cents, currently down 1 1/2 cents
Mar 26 MGEX Wheat closed at $5.71 3/4, down 2 3/4 cents, currently down 1 1/4 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.
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