The wheat complex is trading with midday losses across the three markets on Friday. Chicago SRW futures are trading with 5 to 6 cent losses on Friday. KC HRW futures are down 5 to 7 cents in most contracts. MPLS spring wheat is steady to a penny lower.
Export Sales data has wheat export commitments at 21974 MMT, a 17% improvement from last year for the same week. That is now 90% of USDA’s forecast and slightly behind the 91% average pace.Â
USDA will release updated WASDE data on Tuesday, with a Bloomberg survey showing analysts at an average of 918 mbu for US wheat stocks, down 8 mbu from January if realized.Â
StatsCanada released December 31 stocks data this morning, with total wheat stocks at 27.5 MMT, 5.9% above the same time last year. Of that, wheat excluding durum was 22.15 MMT, up 3.2% from the year prior.
Mar 26 CBOT Wheat  is at $5.29 1/2, down 5 3/4 cents,
May 26 CBOT Wheat  is at $5.39, down 5 cents,
Mar 26 KCBT Wheat  is at $5.31 3/4, down 6 3/4 cents,
May 26 KCBT Wheat  is at $5.44, down 6 1/2 cents,
Mar 26 MIAX Wheat  is at $5.70 1/2, down 1 cent,
May 26 MIAX Wheat  is at $5.83 1/2, down 3/4 cent,
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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