Spring Wheat Jul '20 (MWN20)
Spring Wheat Futures Market News and Commentary
Wheat is mostly lower early on Thursday morning. The wheat complex followed Tuesday’s limit gains with the three exchanges lower on Wednesday. Chicago SRW futures closed with contracts steady to 3 ½ cents lower. Open interest was up 3,742 contracts. KC HRW futures were down 4 ¾ to 7 ¾ cents at the close. OI rose 1,522 contracts on Wednesday. MPLS spring wheat was down 4 to 4 ¼ cents across most contracts. There were 19 deliveries against May CBT wheat overnight. May expires today.
Day 2 of the Kansas Wheat Quality Tour showed an average of 39.3 bpa yield, the lowest day 2 total for the tour since 2023 and below the 53.3 bpa last year. Thursday is the final day of the tour with the average released later in the day.
USDA’s Export Sales report will be out this morning with analysts looking for 2025/26 sales in a range of 50,000-150,000 MT. Sales for new crop are seen in a range of 100,000 MT to 350,00 MT.
Expana raised their outlook for 2026/27 EU wheat production by... Read more
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