Spring Wheat Dec '21 (MWZ21)
Spring Wheat Futures Market News and Commentary
After starting the Friday session double digits in the red, wheat futures rallied into the close. For SRW that left the board 5 1/4 to 6 1/2 cents lower on the day. KC wheat closed 3 1/4 to 6 1/4 cents in the red for the front months. MPLS futures rallied back into the black on the day, ending fractionally to 3 1/2 cents higher. Dec HRS futures traded within a 30 3/4 cent range on Friday.
USDA’s weekly Export Sales report showed 567,487 MT of wheat was sold during the week of 11/18. That was more than double last week, but still 29% below the same week last year. Japan was the week’s top buyer, with 154k MT of the total. Total wheat commitments were 523.5 mbu as of 11/18. Egypt’s GASC issued an international wheat tender.
Buenos Aires Grains Exchange reported the Argentine wheat crop at 20.3 MMT in their latest forecast. That is up from 19.8 MMT in their previous forecast – citing better than expected yields.
Dec 21 CBOT Wheat closed at $8.30 1/4, down 6 1/2 ce... Read more
- Thanksgiving week ends with market rout
New COVID variant sparks selling
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- Shootin' the Bull
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- Wheat Down Double Digits
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