Thursday Wheat Pulls Back

Wheat markets were down on Thursday, but closed off their double digit lows. At the bell futures were 3 3/4 to 7 cents in the red in Chicago, with Dec back below the $9 mark. Futures were 4 1/2 to 9 1/4 cents weaker in KC on Thursday. MPLS spring wheat ended the day down by 6 1/2 to 7 3/4 cents. 

Oats Futures Prices are currently up by 3 to 6 1/2 cents for midday. The oats market is still ~20 cents off the late August low, but futures have failed to bounce as seen in corn and wheat.

The weekly Export Sales report from USDA had 279.8k MT of wheat bookings from the week that ended 9/22. That was 52% above last week and was 4% below the same week last year. Expectations were for sales between 175k and 500k MT. Guatemala was the top buyer for the week. Wheat export shipments were 620k MT for the week for a season total of 7.127 MMT. 

Dec 22 CBOT Wheat  closed at $8.96 1/4, down 7 cents,

Mar 23 CBOT Wheat  closed at $9.08, down 7 cents,

Cash SRW Wheat  was $8.26 1/4, down 7 1/4 cents,

Dec 22 KCBT Wheat  closed at $9.66 3/4, down 9 1/4 cents,

Cash HRW Wheat  was $9.24 3/8, down 9 1/4 cents,

Dec 22 MGEX Wheat  closed at $9.66, down 6 1/2 cents,