Wheat Mini Futures Market News and Commentary
Wheat futures are mixed so far for Thursday’s midday. Chicago futures are trading lower with midday losses of 1 1/2 to 3 3/4 cents. KC wheat is stronger so far, up by as much as 2 1/2 cents for the front months. Spring wheat prices are mixed, trading within 2 cents of their stat price.
USDA’s weekly Export Sales report with data from the week that ended 9/9 showed 617,115 MT were booked. That was up 59% on the week and was 83% above the same week last year coming in at the top end of pre report expectations. 327,300 MT of the week’s total were previously announced to Nigeria, making them the week’s top buyer. Mexico and South Korea also booked ~70k MT each. The report showed 514,110 MT of wheat was shipped during the week, which was a 4 week high, though still 9% below last season’s level. Accumulated shipments trail last MY’s pace by 18% with 6.332 MMT.
Morrocco is looking for 363k MT of U.S. wheat under a preferential TRQ. Jordan passed on offers in their 120k MT w... Read more