Wheat Dec '21 (ZWZ21)
Wheat Futures Market News and Commentary
After risk-off weakness to start the week, wheat futures ended the Wednesday session with a double digit recovery. CBT SRW prices ended the session 11 to 15 ½ cents higher. KC wheat futures gained 10 ¾ to 15 ½ cents on the day. Spring wheat prices were up by 12 to 15 ¾ cents at the close.
Survey responses going into the weekly Export Sales report suggest wheat bookings during the week that ended 9/19 were between 250,000 and 600,000 MT.
Japan is tendering for 113,067 MT of wheat in their regular weekly MOA tender. Of that, 55,481 MT were U.S. specific, with the remainder to be from Canada. Jordan is also on the market for 120k MT of optional origin wheat. Algeria issued a tender for 50k MT of wheat. The Philippines also issued an international wheat tender seeking 224k MT of feed grade wheat. Pakistan issued a new international wheat tender seeking 640k MT for Jan-Feb delivery – shortly after their 500k MT tender received offers reported at $383.50 CIF/MT (no purchas... Read more
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