Wheat is trading with mixed action on Wednesday’s midday as the US dollar index rallying is putting some pressure on things. Chicago SRW futures are within a penny of unchanged at midday. KC HRW contracts are down 2 to 3 cents on Wednesday. MPLS spring wheat is down 3 to 4 cents on the day.
Weekly Export Sales data is expected to show 250,000 to 550,000 MT in old crop wheat sales during the week of 10/31. For new crop sales, estimates are running 0 to 50,000 MT.
Ahead of USDA’s WASDE report on Friday, analysts surveyed by Reuters expect to see very little movement in the US ending stocks projection this month at 813 mbu on average. The range of estimates is 800 to 830 mbu.
South Korea purchased a total of 100,000 MT of wheat split 50,000 MT each from the US and Australia in their tender on Wednesday.
Dec 24 CBOT Wheat is at $5.73 1/2, up 1 cent,
Mar 25 CBOT Wheat is at $5.90 3/4, down 1/4 cent,
Dec 24 KCBT Wheat is at $5.74, down 2 3/4 cents,
Mar 25 KCBT Wheat is at $5.86, down 3 cents,
Dec 24 MGEX Wheat is at $6.06 1/2, down 4 cents,
Mar 25 MGEX Wheat is at $6.28 1/2, down 3 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
