Wheat Mixed on Thursday

Wheat is mixed on Thursday, with the hard red contracts the weakest, Chicago SRW futures are up 3 cents in the March contract on Thursday. KC HRW futures are showing 1 to 2 cent losses at midday. There were 5 deliveries issued against December KC wheat. MPLS spring wheat is fractionally lower.

The weekly Export Sales report got another catch-up release this morning, with USDA showing 850,418 MT of wheat sold in the week ending on 11/13. That exceeded analysts estimates of 200,000 to 600,000 MT. It was also a 6-week high and 54.73% larger than last year.

Census data was reported on Wednesday, with 3.23 MMT (118.68 mbu) of wheat shipped in September. That was the largest total for that month in 12 years and 19.97% larger than August.

The quarterly Flour Milling report from NASS was released on Wednesday, with the July-September wheat ground for flour totaling 231.4 million bushels. That was 8.5 million bushels above the April-June total, but down 1 mbu vs. the same period last year. 

A couple South Korean importers purchased a total of 130,000 MT wheat overnight. The Rosario Grain Exchanges estimates the Argentina 2025/26

Dec 25 CBOT Wheat  is at $5.31 1/4, down 5 cents,

Mar 26 CBOT Wheat  is at $5.32 1/2, up 3 cents,

Dec 25 KCBT Wheat  is at $5.10, down 6 1/2 cents,

Mar 26 KCBT Wheat  is at $5.21 3/4, down 1 1/2 cents,

Dec 25 MGEX Wheat  is at $5.81 1/2, unch,

Mar 26 MGEX Wheat  is at $5.75, down 1/4 cent,