The wheat market is slightly lower to kick off Thursday morning trade. Wheat posted losses across the three exchanges on Wednesday. Chicago SRW futures were down 6 to 7 cents in the nearby contracts on the day. KC HRW closed with contracts down 5 to 6 cents. MPLS spring wheat futures were 9 to 10 cents in the red on the session.
Ahead of the Winter Wheat Seedings report on Friday, the trade is expecting USDA to show all winter wheat acreage at 33.366 million acres, down 24,000 acres from last year if realized. HRW is expected to be 23.73 million, with SRW at 6.14 million acres and white at 3.49 million acres.Â
Taiwan mills purchased a total of 114,650 MT of wheat in their tender from the US overnight.
The weekly Export Sales report is delayed until Friday as the government offices will be closed today for a National Day of Mourning for former President Carter’s funeral. The markets will be closing at 12:15 pm CST. The CME is planning to begin offering Hard Red Spring wheat futures and options, pending regulatory approval, in early quarter 2 of this year.Â
Mar 25 CBOT Wheat  closed at $5.36 1/4, down 6 1/4 cents, currently down 1 3/4 cents
May 25 CBOT Wheat  closed at $5.47 3/4, down 6 3/4 cents, currently down 2 cents
Mar 25 KCBT Wheat  closed at $5.50, down 5 3/4 cents, currently down 3/4 cent
May 25 KCBT Wheat  closed at $5.58 1/2, down 6 cents, currently down 1 cent
Mar 25 MGEX Wheat  closed at $5.85, down 9 3/4 cents, currently down 1/2 cent
May 25 MGEX Wheat  closed at $5.93 3/4, down 9 cents, currently down 1 cent
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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