Wheat Dec '24 (ZWZ24)
Wheat Futures Market News and Commentary
The wheat complex faced some pressure on Thursday after rallying to fresh multi year highs overnight. Chicago SRW contracts were down 8 ½ to 13 cents at the close. KC HRW futures slipped late, with contracts down 3 to 10 ¼ cents. MPLS spring wheat was up ½ to 1 cent in the front months was back months down 2 to 5 cents
Export Sales data from FAS was out this morning showing just 290,016 MT of wheat sales for the week of 7/13. That was up 23.36% from last week but still less than half the same week last year. Mexico was the lead buyer of 137,600 MT, with 98,200 MT sold to Taiwan.
The annual spring wheat tour results were released on Thursday, with an average estimate of 48 bpa. That was below the 49.0 bpa last year but above the 45.8 bpa average from the last 5 years.
Sep 26 CBOT Wheat  closed at $6.96 1/4, down 9 1/2 cents,
Dec 26 CBOT Wheat  closed at $7.13 3/4, down 9 cents,
Sep 26 KCBT Wheat  closed at $7.59 3/4, down 3 3/4 cents,
Dec 26 KCBT W... Read more
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