Wheat price action is lower to start Friday. Futures saw mixed action on Thursday, with the hard red contracts the weakest. December futures expire on Friday. Chicago SRW futures were up 3 to 4 cents Thursday. Open interest was up 4,003 contracts. KC HRW futures saw penny losses in the front months. OI was up 3,610 contracts on Thursday MPLS spring wheat was slightly higher in the front months.
The weekly Export Sales report from Thursday USDA showed 850,418 MT of wheat sold in the week ending on 11/13. That was a 6-week high and 54.73% larger than the same week last year. Accumulated wheat sale commitments are now 18.12 MMT, up 22.4% from last year and the largest total for that week since 2013/14.
Census data was reported on Wednesday, with 3.23 MMT (118.68 mbu) of wheat shipped in September. That was the largest total for that month in 12 years and 19.97% larger than August.
A South Korean importer purchased a total of 65,000 MT of wheat in a private purchased overnight.
Dec 25 CBOT Wheat closed at $5.34 1/2, up 3 1/4 cents, currently unch
Mar 26 CBOT Wheat closed at $5.33 1/2, up 4 cents, currently down 4 cents
Dec 25 KCBT Wheat closed at $5.15 1/2, down 1 cent, currently unch
Mar 26 KCBT Wheat closed at $5.22 1/4, down 1 cent, currently down 2 3/4 cents
Dec 25 MGEX Wheat closed at $5.82 1/2, unch, currently unch
Mar 26 MGEX Wheat closed at $5.76 1/4, up 1 cent, currently down 2 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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