The wheat complex is trading with midday losses on Wednesday. Chicago SRW futures are steady to 2 cents in the red so far on the day. KC HRW futures are down 3 to 4 cents on Wednesday. MPLS spring wheat is fractionally lower so far at midday. There were no deliveries issued against December CBT wheat overnight, with another 66 against December KC wheat.
CFTC published their delayed Commitment of Traders data on Tuesday from the week of 10/21. That showed CBT wheat specs trimming 2,918 contracts from their net short to 108,825 contracts. In KC wheat, they cut 433 contracts from their net short to 67,271 contracts.
Export Sales data for the week ending on October 31 will be out on Thursday, with traders looking for between 250,000 ad 650,000 MT in wheat bookings.
A South Korean importer purchased a total of 30,300 MT of wheat in a tender overnight. Algeria purchased wheat in their tender that closed on Wednesday, with reports of purchases between 500,000 and 600,000 MT.
Dec 25 CBOT Wheat is at $5.37 1/2, down 1/4 cent,
Mar 26 CBOT Wheat is at $5.39, down 2 cents,
Dec 25 KCBT Wheat is at $5.20, down 3 1/2 cents,
Mar 26 KCBT Wheat is at $5.29 3/4, down 3 1/4 cents,
Dec 25 MGEX Wheat is at $5.81 1/2, down 11 1/4 cents,
Mar 26 MGEX Wheat is at $5.80, down 3/4 cent,
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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