Wheat futures are mixed so far on Tuesday morning, with the winter wheats slipping lower and spring wheat higher. The wheat complex posted gains on Monday to take back some of the Friday weakness. CBT soft red wheat futures posted 8 to 9 cent higher trade on Monday. Open interest suggested more short covering, down 11,521 contracts. KC HRW futures posted 6 to 8 cent gains on the Monday session. OI was down 1,169 contracts. MPLS spring wheat futures closed the day up 5 to 7 cents to start the week.
Export Inspections data showed 290,513 MT (10.67 mbu) of wheat shipped in the week that ended on November 6, which was a drop of 17.07% from the week prior and 17.91% below the same week last year. Mexico was the top destination of 70,352 MT, with 62,882 MT to the Philippines. Marketing year shipments have totaled 12.115 MMT (445.2 mbu), a 19.18% increase yr/yr.
Dec 25 CBOT Wheat closed at $5.35 3/4, up 8 cents, currently down 1/4 cent
Mar 26 CBOT Wheat closed at $5.50 1/2, up 8 1/4 cents, currently down 1/4 cent
Dec 25 KCBT Wheat closed at $5.27, up 7 3/4 cents, currently down 2 1/2 cents
Mar 26 KCBT Wheat closed at $5.39 1/4, up 7 1/4 cents, currently down 1 1/2 cents
Dec 25 MGEX Wheat closed at $5.64 1/4, up 6 1/4 cents, currently up 1/2 cent
Mar 26 MGEX Wheat closed at $5.79 1/2, up 5 1/2 cents, currently up 1 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.
