Wheat Mixed in Overnight Action

Friday’s wheat market is set to begin mixed after overnight adjustments. Thursday’s winter wheat futures market ended the day double digits higher. Chicago SRW ended 17 1/2 to 19 cents in the black, with March at $7.98 and the other nearbys above the $8/bu mark. KC wheat closed with 15 to 15 3/4 cent gains. Spring wheat futures closed 5 1/4 to 9 1/2 cents higher. 

USDA reported 118,060 MT of wheat was sold for export last week. Wheat exports were an 18-week high 411,635 MT. That took the MYTD wheat shipment to 13.235 MMTThe weekly Export Sales report also mentioned 10,500 MT of new crop wheat was sold, taking the forward book to 378,396 MT. 

Egypt booked 180k MT of Romanian wheat from their tender. Algeria booked ~600k MT of optional origin wheat via an international wheat tender. The International Grains Council raised their global wheat carryout estimate by 2 MMT to 278 MMT. 

Mar 22 CBOT Wheat  closed at $7.98, up 17 1/2 cents, down 2 cents this morning

Cash SRW Wheat  was $7.62 ½ on Thursday, up 17 1/2 cents,

Mar 22 KCBT Wheat  closed at $8.23, up 15 cents, up ½ cents this morning

Cash HRW Wheat  was $8.05 5/8 on Thursday, up 15 1/8 cents,

Mar 22 MGEX Wheat  closed at $9.57 1/4, up 5 1/4 cents, down ½ cents this morning