The wheat complex is showing mixed action as we trade through midday. CBT soft red wheat futures are mixed, with December down a penny. KC HRW futures are down 1 to 4 cents on Tuesday. MPLS spring wheat futures are up 3 to 4 cents at midday.
USDA is expected to release their WASDE this Friday despite the ongoing shutdown, with a Reuters survey showing analysts looking for US wheat stocks at 867 mbu, a 23 mbu increase from the September report, likely including the increased production.
EU soft wheat exports have totaled 838 MMT from July 1 to November 9, now down just0.33 MMT from the same period last year. Algeria purchased an unspecified amount of wheat in a tender on Tuesday.
Dec 25 CBOT Wheat is at $5.34 3/4, down 1 cent,
Mar 26 CBOT Wheat is at $5.50 3/4, up 1/4 cent,
Dec 25 KCBT Wheat is at $5.23 1/4, down 3 3/4 cents,
Mar 26 KCBT Wheat is at $5.38 1/4, down 1 cent,
Dec 25 MGEX Wheat is at $5.67 3/4, up 3 1/2 cents,
Mar 26 MGEX Wheat is at $5.82, up 3 1/2 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.
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