The wheat complex pulled back from midday strength, with contracts mixed on Thursday. CBT soft red wheat futures saw fractionally lower trade to round out the session. KC HRW futures were 1 to 2 cents in the green to close Thursday. MPLS spring wheat futures closed with contracts steady to 2 cents lower.
Delayed export sales data for the week of 9/25 showed 315,875 MT of wheat sold in that week, a 3-week low at the time.
The NOAA 7-day QPF shows precip expected to total 1 to 4 inches in parts of the Southern Plains and parts of SRW country in the middle parts of next week.
Expana estimates the EU wheat crop at 136.8 MMT, up 0.4 MMT from last month. The French wheat ending stocks estimate from FranceAgriMer was 2.83 MMT, up 0.04 MMT from their previous estimate. The Buenos Aires Grain Exchange estimates the Argentina wheat crop at 24 MMT, up 2 MMT from the previous estimate.
Dec 25 CBOT Wheat closed at $5.35 3/4, down 1/4 cent,
Mar 26 CBOT Wheat closed at $5.52 1/4, down 1/4 cent,
Dec 25 KCBT Wheat closed at $5.25 3/4, up 1/4 cent,
Mar 26 KCBT Wheat closed at $5.43, up 1 1/4 cents,
Dec 25 MGEX Wheat closed at $5.70 3/4, unch,
Mar 26 MGEX Wheat closed at $5.83, down 1 1/4 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.
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