Thursday’s wheat session starts out mixed, with MPLS spring wheat in positive territory and the other two markets down 4 to 5 cents. Wednesday concluded with wheat off the lows but still down by double digits. Chicago SRW closed 17 to 23 cents in the red. KC wheat ended 15 1/4 to 18 3/4 cents weaker. Spring wheat was the weakest with some 3% losses of more than 30 cents. New crop faded back below the $9/bu mark.
Oats Futures Prices were initially lower in tandem with the wheat market, but came back up to end Wednesday 1 3/4 to 4 3/4 cents in the black.
Ahead of the FAS weekly Export Sales report, analysts surveyed expect wheat bookings to be between 200k and 600k MT. New crop sales from the week that ended 1/20 are estimated to have been less than 100k MT.
Mar 22 CBOT Wheat closed at $7.95, down 23 cents, and down 4 ½ this morning
Cash SRW Wheat was $7.56 ½ on Wednesday, down 22 1/2 cents,
Mar 22 KCBT Wheat closed at $8.15 3/4, down 18 3/4 cents, and down 3 ½ this morning
Cash HRW Wheat was $7.98 3/8 on Wednesday, down 18 1/2 cents,
Mar 22 MGEX Wheat closed at $9.16 1/4, down 31 cents, up 2 ¼ this morning
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