Wheat Mar '21 (ZWH21)
Wheat Futures Market News and Commentary
Afternoon wheat trading brought futures back from the midday lows, prices were in the red at the close. CBT futures closed the midweek session 6 1/2 to 8 1/2 cents lower. KC HRW wheat futures ended the day down by 4 1/4 to 6 1/2 cents. MGE futures were down 5 to 6 cents. Ahead of USDA’s weekly Export Sales report, analysts expect between 250,000 MT and 600,000 MT of wheat was booked on the week ending 1/21. For new crop, traders are looking for 0 to 50k MT. Canada’s AAFC forecasted 33.651 MMT of wheat for the 2021-22 crop in their annual preliminary estimate. That is down 4% yr/yr, citing trend yields back down from the 3.51 MT/HA record in 2020/21.Mar 21 CBOT Wheat closed at $6.58 1/4, down 7 cents,Mar 21 KCBT Wheat closed at $6.36 3/4, down 4 1/4 cents,Mar 21 MGEX Wheat closed at $6.32 3/4, down 5 1/4 cents,
--- provided by Brugler Marketing & Management
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