The wheat market is trading with contracts in the red at midday on Wednesday. Â Chicago SRW futures are 5 to 7 cents lower so far on the session. KC HRW futures are trading with 5 to 6 cent losses. MPLS spring wheat is leading the bearish charge, down 9 to 11 cents.
NOAA’s 7-day QPF shows precip picking up in parts of the Eastern half of the US over the next week, mainly in the early portion of week. The Plains are expected to see lighter totals, mainly in the eastern portions.Â
Export Sales data for the week that ended on February 20 will be released tomorrow morning, with traders looking for 2024/25 bookings at 300,000-600,000 MT, with new crop estimated to be in a range of 0-100,000 MT.Â
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Mar 25 CBOT Wheat  is at $5.67 1/2, down 5 1/4 cents,
May 25 CBOT Wheat  is at $5.81, down 6 3/4 cents,
Mar 25 KCBT Wheat  is at $5.86 3/4, down 5 cents,
May 25 KCBT Wheat  is at $5.99 1/2, down 6 cents,
Mar 25 MGEX Wheat  is at $6.02 3/4, down 10 1/4 cents,
May 25 MGEX Wheat  is at $6.19 3/4, down 9 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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