Wheat is back to higher trade on Thursday morning, up 2 to 7 cents The wheat complex was lower across the three exchanges on Wednesday. Chicago SRW futures were down 5 to 6 cents at the close. Open interest was up 3,401 contracts on Wednesday. KC HRW futures were 5 to 7 cents lower on the session. There were 24 deliveries issued against March KC wheat overnight. MPLS spring wheat was down 2 to 4 cents in the red on the midweek session.
Export Sales data will be released on Thursday morning, as traders are expecting to see net wheat sales totaling 200,000 to 500,000 MT for the week ending on February 26. New crop business is estimated in a range of 0-100,000 MT.
Statistics Canada planting intentions data will be released on Thursday morning, with traders surveyed by Reuters looking for all wheat acres to be tallied at 26.4 million acres, down from 26.9 million last year. Spring wheat is estimated at 18.8 million acres, steady with 2025 if realized.
Mar 26 CBOT Wheat closed at $5.66 3/4, down 5 1/2 cents, currently up 2 1/2 cents
May 26 CBOT Wheat closed at $5.68 1/4, down 5 3/4 cents, currently up 5 cents
Mar 26 KCBT Wheat closed at $5.65 1/4, down 5 1/4 cents, currently up 2 3/4 cents
May 26 KCBT Wheat closed at $5.72 1/2, down 5 3/4 cents, currently up 7 1/2 cents
Mar 26 MIAX Wheat closed at $5.99 3/4, down 2 1/2 cents, currently up 1 cent
May 26 MIAX Wheat closed at $6.09 1/4, down 4 cents, currently up 4 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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