Wheat Closes In the Red on Wednesday
The wheat market posted losses on Wednesday, as the three markets were faced with weakness. Chicago SRW futures were 6 to 8 cents in the red on the session. KC HRW futures posted losses of 6 to 7 cents at the midweek session. MPLS spring wheat was the leader to the bear side, down 11 to 13 1/2 cents.
NOAA’s 7-day QPF shows precip picking up in parts of the Eastern half of the US over the next week, mainly in the early portion of week. The Plains are expected to see lighter totals, mainly in the eastern portions.
Export Sales data for the week that ended on February 20 will be released tomorrow morning, with traders looking for 2024/25 bookings at 300,000-600,000 MT, with new crop estimated to be in a range of 0-100,000 MT.
Mar 25 CBOT Wheat closed at $5.66, down 6 3/4 cents,
May 25 CBOT Wheat closed at $5.79 3/4, down 8 cents,
Mar 25 KCBT Wheat closed at $5.85, down 6 3/4 cents,
May 25 KCBT Wheat closed at $5.98 1/2, down 7 cents,
Mar 25 MGEX Wheat closed at $5.99 1/2, down 13 1/2 cents,
May 25 MGEX Wheat closed at $6.17 3/4, down 11 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.