Wheat Slipping at Midday
The wheat complex is showing some weakness at Friday’s midday across the three markets. Chicago SRW futures are down 6 cents on the day. KC HRW contracts are 5 to 6 cents lower across front months. MPLS spring wheat is 6 to 8 cents in the red so far on the session.
The weekly Export Sales report has total commitments through October 24 at 13.614 MMT for wheat and products, which is a 4-year high and 19% larger yr/yr. In terms of meeting the USDA projected export forecast, commitments are 61% of the number, slightly behind the 64% average pace.
Dec 24 CBOT Wheat is at $5.64 1/2, down 6 cents,
Mar 25 CBOT Wheat is at $5.84 1/4, down 6 cents,
Dec 24 KCBT Wheat is at $5.63 3/4, down 5 1/2 cents,
Mar 25 KCBT Wheat is at $5.77 1/4, down 5 3/4 cents,
Dec 24 MGEX Wheat is at $5.97, down 7 1/4 cents,
Mar 25 MGEX Wheat is at $6.21 1/2, down 6 3/4 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.