The wheat complex is trading with weakness across the three markets at midday. Chicago SRW futures are 6 1/2 cents lower in the March contract. There were another 5 deliveries issued against December CBT wheat overnight. KC HRW contracts are down 6 ½ to cents on the day. MPLS spring wheat are down 5 ¾ cents in the March contracts.
The weekly Export Sales report showed 290,236 MT of wheat sold in the week of 12/5, on the lower end of the estimates running between 275,000 and 600,000 MT. That was an 11-week low for sales and was down 23.27% from last week. Sales were spread out, with the Philippines buying 92,000 MT and Mexico in for 73,700 MT
Japan purchased a total of 112,889 MT of wheat from Australia, Canada, and the US, with 58,986 MT US specific. Saudi Arabia has issued a tender to buy 595,000 MT of wheat, with offered due on Friday.
Dec 24 CBOT Wheat is at $5.33 1/4, down 10 1/4 cents,
Mar 25 CBOT Wheat is at $5.56 3/4, down 6 1/2 cents,
Dec 24 KCBT Wheat is at $5.50 3/4, up 1 1/2 cents,
Mar 25 KCBT Wheat is at $5.60 3/4, down 6 1/2 cents,
Dec 24 MGEX Wheat is at $5.82 1/4, unch,
Mar 25 MGEX Wheat is at $6.01 1/4, down 5 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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
