The wheat market is trading close to unchanged on Tuesday’s midday. Chicago SRW futures were up 2 ½ to 3 ½ cents across the board on Tuesday. KC HRW contracts also posted gains of 2 ½ to 3 ½ cents at the close. MPLS spring wheat futures saw steady trade to 2 cent gains to close out the New Years Eve session.
The market will be closed on Wednesday, with a hard 8:30 am CST open on Thursday. The weekly Export Sales report will be published on Friday morning.
NOAA’s 7-day QPF shows very little precip expected in the western portions of the Plains in the next week, with eastern portions and SRW area expecting 1-2 inches. The 8-14 day outlook is calling for high chances of below normal temps east of the Rockies.
Mar 25 CBOT Wheat closed at $5.51 1/2, up 3 1/4 cents,
May 25 CBOT Wheat closed at $5.62 1/2, up 3 1/2 cents,
Mar 25 KCBT Wheat closed at $5.59 1/4, up 3 1/2 cents,
May 25 KCBT Wheat closed at $5.67 3/4, up 3 1/4 cents,
Mar 25 MGEX Wheat closed at $5.95 3/4, up 2 cents,
May 25 MGEX Wheat closed at $6.03 1/2, up 2 cents,
On the date of publication, Austin Schroeder 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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