Front month wheat futures are currently a penny to 5 cents lower into the report day. Wheat prices settled the Thursday session near their highs with another gain day. KC led the way with 1.7% gains of as much as 11 ½ cents. CBT SRW futures ended the day 5 ¾ to 10 ¼ cents higher. Spring wheat futures were 5 ½ to 6 ¾ cents in the black at the close. Oats Futures Prices were 10 cents lower on the day and now sit at a net weekly loss of 23 cents.
The weekly Export Sales report showed 356,412 MT of wheat was booked during the week that ended 11/30. That was a step back from the 622.8k MT sold last week but was inline with estimates and was above the 5-wk average. HRS bookings made up 151k MT of the total. Wheat commitments trail last year’s pace by 4.4% with 479.3 mbu on the books.
Wire sources suggest Pakistan is tendering for 110k MT of wheat. Bangladesh is on the hunt for 50k MT of milling wheat. Lebanon seeks 30k MT of milling wheat via tender. Egypt’s GASC bought another 420,000 MT on Wednesday, this time all from Russia.
Mar 24 CBOT Wheat closed at $6.42 1/4, up 8 3/4 cents, currently down 4 1/4 cents
May 24 CBOT Wheat closed at $6.49 1/2, up 5 3/4 cents, currently down 5 1/4 cents
Cash SRW Wheat was $4.75 5/8, up 11 5/8 cents,
Mar 24 KCBT Wheat closed at $6.67 1/2, up 11 1/2 cents, currently down 3/4 cents
Cash HRW Wheat was $5.47 3/8, up 5 1/4 cents,
Mar 24 MGEX Wheat closed at $7.37 1/4, up 6 3/4 cents, currently down 1 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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