The wheat complex closed the Wednesday session with contracts mostly higher across the three markets. Chicago SRW futures were 1 1/2 to 2 1/2 cents higher across the board. KC HRW contracts were up 1 ½ to cents on the day. MPLS spring wheat was steady to 3 1/4 cents higher to close the session.
The weekly Export Sales report is expected to show between 275,000 and 600,000 MT of 2024/25 wheat bookings in the week that ended on December 5. Another 0-50,000 MT is estimated for 2025/26 sales.
The monthly WASDE report showed US wheat ending stocks were down 20 mbu to 795 mbu due to a larger export total. World stocks were 0.31 MMT higher at 257.88 MMT.
Dec 24 CBOT Wheat closed at $5.43 1/2, up 1 1/2 cents,
Mar 25 CBOT Wheat closed at $5.63 1/4, up 1 1/2 cents,
Dec 24 KCBT Wheat closed at $5.50 3/4, up 1 1/2 cents,
Mar 25 KCBT Wheat closed at $5.67 1/4, up 1 1/2 cents,
Dec 24 MGEX Wheat closed at $5.82 1/4, unch,
Mar 25 MGEX Wheat closed at $6.06 1/2, unch,
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. More news from Barchart- Are Soybeans As Bearish As Advertised?
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