Wheat is trading with weakness in the winter wheat contracts, with spring wheat holding higher. The wheat market sold the fact of China purchases on Thursday, with losses across most contracts. CBT soft red wheat futures were 18 to 20 cents in the red across most contracts. Open interest dropped 17,757 contracts on Thursday. KC HRW futures fell 16 to 18 cents in the front months on Thursday. Preliminary OI was down 3,873 contracts. MPLS spring wheat futures were mixed, with nearby December up ¾ cent and other contracts down 2 cents.
On Thursday morning it was reported that China purchased a total of 120,000 MT of US wheat, with the 60,000 MT estimated tot be soft wheat and 60,000 MT spring wheat.
A South Korean mill importer purchased 50,000 MT of US wheat in a tender overnight.
French soft wheat planting is now 79% planted as of 11/3, a 11 point move on the week according to the FranceAgriMer. Durum was tallied at 23% planted.
Dec 25 CBOT Wheat closed at $5.35 1/2, down 19 1/4 cents, currently down 3 ½ cents
Mar 26 CBOT Wheat closed at $5.49 3/4, down 18 1/4 cents, currently down 4 cents
Dec 25 KCBT Wheat closed at $5.22 1/4, down 17 3/4 cents, currently down 2 cents
Mar 26 KCBT Wheat closed at $5.37, down 16 1/2 cents, currently down 3 ½ cents
Dec 25 MGEX Wheat closed at $5.57, up 3/4 cent, currently up 1 ¼ cents
Mar 26 MGEX Wheat closed at $5.72 1/4, down 2 cents, currently up 1 ½ 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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