Wheat Posts Mixed Action on Thursday
The wheat complex was mixed on Thursday, with contracts on either side of unch across the three markets. Chicago SRW futures posted fractional to 2 ¼ cent gains. Kansas City HRW contracts were down 2 to 3 cents, as nearby May was up 1 ¾ cents. MPLS spring wheat closed with contracts down 1 to 2 cents and May up 2 ½ cents.
A wetter forecast for part of HRW and SRW country is keeping a lid on much upward movement.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Export Sales data was tallied at 75,005 MT for the week of 4/24, back up from the week prior’s net reduction. Thailand was the buyer of 58,000 MT, with 39,000 MT sold to Nigeria. New crop sales were tallied at 238,300 MT, in the middle of the expected 100,000 to 400,000 MT range. South Korea was the buyer of 58,000 MT with 49,600 MT sold to unknown.
A total of 229.62 mbu of wheat was ground for flour in the January-March period, which was up 3 mbu from a year ago.
May 25 CBOT Wheat closed at $5.15 1/4, up 2 1/4 cents,
Jul 25 CBOT Wheat closed at $5.31, up 1/4 cent,
May 25 KCBT Wheat closed at $5.16, up 1 3/4 cents,
Jul 25 KCBT Wheat closed at $5.27 1/2, down 2 cents,
May 25 MGEX Wheat closed at $6.16 1/2, up 2 1/2 cents,
Jul 25 MGEX Wheat closed at $5.95 1/2, down 1 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.
More news from Barchart
- The ‘Voice from the Tomb’ Says to Sell Corn and Wheat in May. 1 Other Trading Legend to Follow Now.
- How to Trade Wheat Futures Now: Consider Buying a Call Option on July SRW
- Can Grain and Oilseed Prices Move Even Higher?
- The Soybean Market Is Demonstrating Resilience. Here Are the Levels to Watch Before You Buy July Soybean Futures.
