Wheat Mixed at Midday
Wheat is trading with mixed action on Wednesday. Chicago SRW futures are posting midday losses of 1 to 2 cents. Kansas City HRW contracts are trading with 3 to 5 cent gains so far. MPLS spring wheat is 1 to 2 cents lower at midday.
USDA’s Export Sales report is expected to show between net reductions of 100,000 MT to net sales of 300,000 MT for 2024/25 wheat for the week ending on March 27. New crop sales are pegged in a range of 0 to 200,000 MT.
The US markets are not the only with weaker price action, as French milling wheat futures are just off fresh multi-month lows.
May 25 CBOT Wheat is at $5.39 1/4, down 1 1/4 cents,
Jul 25 CBOT Wheat is at $5.52 3/4, down 1 cent,
May 25 KCBT Wheat is at $5.69 1/2, up 4 1/4 cents,
Jul 25 KCBT Wheat is at $5.80, up 3 1/4 cents,
May 25 MGEX Wheat is at $5.93, down 1 cent,
Jul 25 MGEX Wheat is at $6.08 3/4, down 1 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.