Morning wheat quotes are in the black so far for Thursday. May SRW was up by 9 cents overnight. The wheat market continued lower on Wednesday, and SRW led the way down. The front month CBT futures closed with double digit losses of as much as 2.9%. KC wheat dropped ~1%, with 7 1/2 to 9 cent losses on the day. Spring wheat futures closed 8 to 12 cents in the red.Â
Analysts surveyed for the weekly USDA Export Sales report expect between 140k MT and 555k MT of old crop wheat was sold during the week that ended 3/16. New crop sales are estimated to come in between 50k MT and 200k MT.Â
China is set to auction 140k MT of wheat from state reserves next week. Jordan and Turkey have buying tenders underway, with March 28 deadlines.Â
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May 23 CBOT Wheat  closed at $6.63 1/2, down 19 3/4 cents, currently up 4 cents
Jul 23 CBOT Wheat  closed at $6.74 3/4, down 17 3/4 cents, currently up 4 cents
Cash SRW Wheat  was $6.11 5/8, down 20 1/2 cents,
May 23 KCBT Wheat  closed at $8.11 1/4, down 9 cents, currently up 9 1/4 cents
Cash HRW Wheat  was $7.75 1/1, down 6 3/4 cents,
May 23 MGEX Wheat  closed at $8.33 3/4, down 12 cents, currently up 7 1/4 cents
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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