The wheat complex is trading higher ahead of Friday’s Export Sales report, with contracts trading in the green across the three exchanges. Wheat had another round of weaker trade on Thursday. Chicago SRW futures were down 6 to 7 cents on the session. KC HRW futures fell another 6 to 7 cents into the close. MPLS spring wheat saw fractional losses at the settle.
USDA’s Export Sales report will be released soon, with traders expecting to see 300,000 and 600,000 MT in wheat bookings during the week of 2/13. New crop sales are seen between 0-50,000 MT.
The FranceAgriMer showed improving conditions of the French soft wheat crop by 1% to 74% gd/ex.
International Grains Council data was released on Thursday morning showing world wheat production up 1 MMT to 797 MT, as stocks were down 1 MMT on increased consumption at 264 MMT.
Mar 25 CBOT Wheat closed at $5.85 1/2, down 6 1/2 cents, currently up 5 3/4 cents
May 25 CBOT Wheat closed at $6.00 1/4, down 6 1/4 cents, currently up 6 1/4 cents
Mar 25 KCBT Wheat closed at $6.07 1/2, down 6 1/4 cents, currently up 5 1/2 cents
May 25 KCBT Wheat closed at $6.20, down 6 1/4 cents, currently up 5 1/4 cents
Mar 25 MGEX Wheat closed at $6.32 3/4, down 3/4 cent, currently up 3 cents
May 25 MGEX Wheat closed at $6.47 3/4, down 1/2 cent, currently up 3 1/2 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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