Wheat Leaking Lower on Thursday
The wheat complex is posting weaker trade on Thursday’s midday. CBT soft red wheat futures are down 1 to 3 cents so far on the day. KC HRW futures are posting fractional losses in the front months on Thursday. MPLS spring wheat is down 2 to 4 cents so far on the session.
Export Sales data from USDA this morning indicated sales backing off slightly from last week to 722,846 MT but was still on the higher side of the 400,000 and 850,000 MT estimates. That was the second largest for the marketing year only behind last week and more than double the same week last year.
A South Korean importer purchased 50,000 MT of US wheat in their tender overnight.
Sep 25 CBOT Wheat is at $5.05 1/2, down 1 3/4 cents,
Dec 25 CBOT Wheat is at $5.25 3/4, down 2 1/2 cents,
Sep 25 KCBT Wheat is at $5.06 1/2, down 1/4 cent,
Dec 25 KCBT Wheat is at $5.27 1/4, down 3/4 cent,
Sep 25 MGEX Wheat is at $5.74 1/4, down 2 3/4 cents,
Dec 25 MGEX Wheat is at $5.93 3/4, down 2 1/4 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.