Wheat prices are showing losses to start Friday trade. Futures felt weakness across the three exchanges on Thursday, as the US dollar index worked back higher and provided some weakness. Chicago SRW futures were down 6 ½ to 8 ½ cents across the board. KC HRW was 6 to 7 cents lower at the close. MPLS spring wheat led the way to the downside with losses of 6 to 13 cents.
Thursday morning’s Export Sales report showed 492,663 MT in the week of August 15, on the high end of the 250,000 MT and 500,000 MT estimated range and a 5-week high. The Philippines was the top buyer of 116,000 MT, with Mexican importers buying 110,500 MT.
Japan’s weekly ministry of ag tender showed purchases of 81,442 MT of US and Canadian wheat, with 53,562 MT US specific.
Sep 24 CBOT Wheat closed at $5.11, down 8 3/4 cents, currently down 3 1/4 cents
Dec 24 CBOT Wheat closed at $5.35 1/2, down 8 1/2 cents, currently down 3 1/4 cents
Sep 24 KCBT Wheat closed at $5.29 1/4, down 7 cents, currently down 2 cents
Dec 24 KCBT Wheat closed at $5.45, down 6 3/4 cents, currently down 2 3/4 cents
Sep 24 MGEX Wheat closed at $5.68 1/4, down 13 cents, currently down 2 1/4 cents
Dec 24 MGEX Wheat closed at $5.84, down 13 cents, currently 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.
