The wheat market saw mixed action on Wednesday across all three exchanges. Chicago SRW futures were anywhere from 3/4 to 2 cents higher on the day. Kansas City HRW futures were mixed, with front months steady to 1 1/2 cents lower and deferred contracts 3/4 to 2 3/4 cents higher. Minneapolis spring wheat futures saw a brunt of the weakness, with contracts down 5 1/4 to 6 3/4 cents.
A large private export sale of 110,000 MT of SRW wheat was reported to China by the USDA this morning. With the Export Sales report released on Friday morning, the trade is estimating all wheat sales in the week of 11/16 in a range of 125,000 to 450,000 MT.Â
Algeria, was back in the market for wheat, this time purchasing an estimated 90,000-100,000 MT of wheat from the Black Sea region. A South Korean importer bought 55,000 MT of feed grade wheat, expected to be from Ukraine or the EU. APK-Inform raised their Ukraine wheat export forecast to 13 MMT vs. USDA at 12 MMT.Â
Dec 23 CBOT Wheat  closed at $5.55 3/4, up 3/4 cent,
Mar 24 CBOT Wheat  closed at $5.84 1/2, up 1 3/4 cents,
Cash SRW Wheat  was $4.75 5/8, up 11 5/8 cents,
Dec 23 KCBT Wheat  closed at $6.14 1/2, down 1 1/4 cents,
Cash HRW Wheat  was $5.47 3/8, up 5 1/4 cents,
Dec 23 MGEX Wheat  closed at $7.10 3/4, down 6 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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