Hard Red Wheat Dec '22 (KEZ22)

Wheat faced some pressure on Friday, as the winter wheats were the weakest. Chicago SRW futures were down ½ to 5 ½ cents on the day, with March down 16 ¾ cents this week and 42 ¼ cents on the month. KC HRW contracts were 2 3/4 to 5 ½ cents lower on the session with March losing 24 ¾ cents on the week and 42 ¼ cents this month. MPLS spring wheat was the strongest of the three, with Dec up 8 cents and the others withing ½ cents of unchanged. March MPLS was down 9 ¾ cents this week and down 36 ½ cents this month.

The weekly Export Sales report showed 366,804 MT in wheat sales for the week of 11/21, in the middle of the 200,000 and 600,000 MT estimates. That was a 9-week low and down 33.26% from the week prior. The largest buyer was unknown destinations at 95,000 MT, with 59,100 MT sold to Taiwan.

The FranceAgriMer shows the country’s soft wheat crop at 93% planted, above the 90% from the week prior, with 87% listed as good/excellent, down 1% from last week. The European Com... Read more