The Minneapolis spring wheat futures market faded in the afternoon, but stayed 1 3/4 to 2 1/2 cents in the black at the close. The winter wheats were red on Wednesday. KC wheat futures faded during the afternoon, with July falling 8 cents from the session high, but were just fractionally to a penny in the red at the close. SRW prices stayed mostly red on Wednesday, finishing the session 2 1/4 to 3 1/2 cents lower.
Weekly Exports Sales are estimated between 75k MT and 300k MT for old crop wheat. FAS is also expected to show between 100,000 MT and 325,000 MT of new crop sales for the week that ended 5/4.
A Stats Canada report from Tuesday morning showed all wheat stocks as of March 31 at 13.3 MMT, 18.2% larger than last year. The trade was expecting stockpiles of 14 MMT.
Jul 23 CBOT Wheat closed at $6.41 1/4, down 2 1/4 cents,
Sep 23 CBOT Wheat closed at $6.52 1/2, down 2 3/4 cents,
Cash SRW Wheat was $5.80, down 2 1/4 cents,
Jul 23 KCBT Wheat closed at $8.55 1/4, down 1 cents,
Cash HRW Wheat was $8.24 1/1, down 1 1/8 cents,
Jul 23 MGEX Wheat closed at $8.49 1/2, up 1 3/4 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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