The wheat complex closed out Thursday with losses across the three exchanges. Chicago SRW futures were down 2 to 5 to close the day. KC HRW contracts were fractionally to 2 cents lower across the board. MPLS spring wheat was down 4 to 5 ½ cents on the session.
All wheat 2024/25 export sales came in at a MY low of 158,938 MT, which came in below the 200,000 to 600,000 MT estimates during the week of September 19. Chile was the largest buyer of 83,000 MT, with the Philippines buying 49,700 MT in that week. Unknown destination cancelled 156,600 MT, with most being switched to a destination. Sales for 2025/26 were tallied at 10,000 MT, in the range of the expected 0 to 50,000 MT.
The Russian 2024/25 wheat crop is projected at 81.8 MMT according to IKAR, down 0.4 MMT from the previous estimate. Japan purchased a total of 112,580 MT of wheat in their weekly tender from Australia, Canada, and the US, with 64,510 MT US specific. China set their 2025 import tariff quota for wheat at 9.64 MMT.
Dec 24 CBOT Wheat closed at $5.84 1/4, down 5 cents,
Mar 25 CBOT Wheat closed at $6.04 1/4, down 4 cents,
Dec 24 KCBT Wheat closed at $5.79, down 2 cents,
Mar 25 KCBT Wheat closed at $5.93 3/4, down 1 1/2 cents,
Dec 24 MGEX Wheat closed at $6.11 1/2, down 5 1/2 cents,
Mar 25 MGEX Wheat closed at $6.33 1/2, down 5 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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