Wheat markets were higher initially but are back into the red going into the Thursday’s day market. Concerns about Ukraine and Black Sea developments kept the U.S. wheat market on the rise Wednesday. Front month Chicago prices closed another 3 1/2 to 10 cents higher on the day. Kansas City wheat ended with 2 1/2 to 4 cent gains on Wednesday. Spring wheat futures closed up by 5 to 8 cents.
Ahead of the weekly Export Sales report, analysts expect US wheat sales were between 200k MT and 500k MT.
Manitoba reported the spring wheat harvest at 65% complete as of 9/18. That trails their usual 71% harvest pace. The Ukrainian Ag Minister expects 22/23 wheat production will be between 16-18 MMT.
Dec 22 CBOT Wheat closed at $9.03 3/4, up 10 cents, currently down 3 cents
Mar 23 CBOT Wheat closed at $9.15 1/4, up 8 cents, currently down 3 1/4 cents
Cash SRW Wheat was $8.37 ¾ on Wednesday, up 10 cents,
Dec 22 KCBT Wheat closed at $9.67, up 4 cents, currently down 1 1/2 cents
Cash HRW Wheat was $9.25 ¾ on Wednesday, up 4 cents,
Dec 22 MGEX Wheat closed at $9.64 1/4, up 5 cents, currently down 2 1/4 cents
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