Wheat Heads Lower into the Wednesday Close
The wheat market was in retreat mode late on Wednesday. CBT soft red wheat futures were steady to down a penny at the close. KC HRW futures fell back by 3 to 4 3/4 cents on the session. MPLS spring wheat futures closed the day with contracts off the highs and near unchanged in the nearbys and as much as a penny higher in other contracts.
The weekly USDA Export Sales data is expected to show between 300,000 MT and 600,000 MT of wheat sales in the week ending on September 18.
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Algeria purchased nearly 600,000 MT wheat in a tender on Tuesday. South Korean mills purchased a total of 50,000 MT of wheat for import from the US overnight.
Dec 25 CBOT Wheat closed at $5.19 1/2, down 1 cent,
Mar 26 CBOT Wheat closed at $5.38, down 1 cent,
Dec 25 KCBT Wheat closed at $5.06 3/4, down 4 3/4 cents,
Mar 26 KCBT Wheat closed at $5.28 1/4, down 4 1/4 cents,
Dec 25 MGEX Wheat closed at $5.68 3/4, unch,
Mar 26 MGEX Wheat closed at $5.88 3/4, unch,
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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