Wheat is giving some back on Thursday morning, with contracts down across the three markets. The wheat complex was mixed on Wednesday, with winter wheat the strongest. CBT soft red wheat was 2 to 3 ¼ cents higher at the final bell. Open interest suggested short covering, down 4,999 contracts. KC HRW futures were steady to 3 cents higher in the front months on Wednesday. MPLS spring wheat futures saw weaker trade at the close, with contracts down 1 to 2 cents.
Despite the lack of USDA data release, the trade is looking for wheat export business during the week of October 23 to have totaled 350,000 to 600,000 MT.
South Korea mill importers tendered for 40,300 MT of wheat with a Friday deadline.
Dec 25 CBOT Wheat closed at $5.32 1/4, up 3 1/4 cents, currently down 4 3/4 cents
Mar 26 CBOT Wheat closed at $5.47 3/4, up 2 cents, currently down 5 3/4 cents
Dec 25 KCBT Wheat closed at $5.22 3/4, up 2 3/4 cents, currently down 6 1/2 cents
Mar 26 KCBT Wheat closed at $5.38, unch, currently down 7 1/4 cents
Dec 25 MGEX Wheat closed at $5.61 1/2, down 1 1/4 cents, currently down 1 1/4 cents
Mar 26 MGEX Wheat closed at $5.80, down 1 3/4 cents, currently down 1 cent
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.
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