Wheat Slipping Lower to Start Friday
The wheat complex is trading with losses so far on th Friday session. Chicago SRW futures are down 6 to 8 cents in the nearbys on the day. KC HRW futures are 5 to 6 cents lower in the front months on the session. MPLS spring wheat is 4 to 5 cents in the red on the day.
USDA released their weekly Export Sales report on Thursday morning, showing 438,867 MT in all wheat sales for the week ending on January 30. That took the marketing year sales total to 18.768 MMT, which is 81% of USDA’s export projection, behind the 90% average pace.
Stats Canada data showed all wheat stocks at 24.481 MMT as of December 31, up 0.9% from last year. Wheat excluding durum was tallied at 20.865 MMT, down 0.9% from the end of 2023.
Mar 25 CBOT Wheat is at $5.80 1/4, down 7 1/2 cents,
May 25 CBOT Wheat is at $5.92 3/4, down 6 cents,
Mar 25 KCBT Wheat is at $6.02, down 5 1/2 cents,
May 25 KCBT Wheat is at $6.11 1/4, down 5 cents,
Mar 25 MGEX Wheat is at $6.24 1/4, down 4 1/4 cents,
May 25 MGEX Wheat is at $6.34, down 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.