Red Close for Friday Wheat Market

Wheat prices ended the last trade day of the week with losses. Chicago wheat futures gave back 2 1/2 to 4 1/4 cents across the front months on Friday. KC HRW prices settled with 7 1/2 to 8 cent losses on the day. Spring wheat futures went into the weekend with losses of 2 3/4 to 4 cents. 

Commitment of Traders data will be delayed as announced. 

Russia’s IKAR reduced their outlook from 87 MMT to 84 MMT for the 2023 wheat crop citing a cold and dry winter. 

Traders estimate StatsCan will report wheat stocks at 22.3 MMT as of Dec 31. The lowest estimate is for 21.2 MMT, and the highest estimate is for 23.2 MMT, compared to last year’s 16.798 wheat stock. 

Mar 23 CBOT Wheat  closed at $7.56 3/4, down 4 1/4 cents,

May 23 CBOT Wheat  closed at $7.68 1/4, down 3 3/4 cents,

Cash SRW Wheat  was $6.96 5/8, down 4 1/2 cents,

Mar 23 KCBT Wheat  closed at $8.73, down 7 3/4 cents,

Cash HRW Wheat  was $8.40 3/4, down 7 1/8 cents,

Mar 23 MGEX Wheat  closed at $9.21 1/2, down 3 1/4 cents,