Wheat Falls Back on Tuesday
The wheat market posted weaker action across the three exchanges on Tuesday, leading into Christmas. Chicago SRW futures were down 3 ¾ to 5 ¾ cents on the session. KC HRW contracts fell 6 ¼ to 7 ¼ cents lower across the board. MPLS spring wheat futures were 5 to 6 cents in the red on the day.
Precipitation is expected to make its way to eastern portions of the Plains this next week with the westerns half expected to remain dry. Portions of the SRW regions are forecast to receive 1-2 inches of precip.
The markets will be closed all-day Wednesday for Christmas, with a hard open at 8:30 am CST on Thursday.
Algeria purchased an unspecified amount of wheat in a tender on Tuesday.
Mar 25 CBOT Wheat closed at $5.34 3/4, down 5 3/4 cents,
May 25 CBOT Wheat closed at $5.45 1/4, down 5 3/4 cents,
Mar 25 KCBT Wheat closed at $5.43 3/4, down 7 1/4 cents,
May 25 KCBT Wheat closed at $5.51 3/4, down 7 1/4 cents,
Mar 25 MGEX Wheat closed at $5.89 1/2, down 6 cent,
May 25 MGEX Wheat closed at $5.97 3/4, down 5 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. More news from Barchart