The morning wheat trade has the board backing off a penny to a nickel across the domestic futures. Chicago wheat futures were 6 to 11 cents higher on the day, which reduced the Dec weekly drop to a net 6 ½ cent loss for the week to date. KC HRW futures finished the day 4 ½ to 5 ¾ cent gains. MGE futures ended the day with 1 ¾ to 3 ½ cent gains across the nearby contracts.
The weekly Export Sales report showed 364k MT of wheat was sold during the week that ended 10/19. That was at the low end of estimates and was down from 630k LW and 533k MT LY. By class the report had 44% of the sale as HRW, though HRW commitments are only 18% of the total – compared to the 21% projection and 28% LY. HRS made up 36% of the sale and holds 34% of the total export commitment.
Wire sources had Tawain buying 52k MT of U.S. wheat.
Dec 23 CBOT Wheat closed at $5.79 1/2, up 11 cents, currently down 2 cents
Mar 24 CBOT Wheat closed at $6.06, up 9 3/4 cents, currently down 1 1/4 cents
Cash SRW Wheat was $4.98 7/8, up 11 cents,
Dec 23 KCBT Wheat closed at $6.54 3/4, up 5 3/4 cents, currently down 5 cents
Cash HRW Wheat was $5.92 1/2, up 5 3/4 cents,
Dec 23 MGEX Wheat closed at $7.24 1/4, up 3 1/2 cents, currently down 1 cent
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.
/Alphabet%20Inc_%20and%20Google%20logos%20by%20IgorGolovinov%20via%20Shutterstock.jpg)
