The wheat complex fell back lower on Thursday, closing with weakness across all three markets. CBT soft red wheat futures were down 3 to 4 cents on the day. KC HRW futures posted 2 to 2 ½ cent losses in the front months on Thursday. MPLS spring wheat was down 3 to 4 cents on the session.
Export Sales data from USDA this morning indicated sales backing off slightly from last week to 722,846 MT, though that was still on the higher side estimates. That was the second largest for the marketing year only behind last week and more than double the same week last year. The largest buyer was South Korea at 130,000 MT, with 114,900 MT sold to Mexico.
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A South Korean importer purchased 50,000 MT of US wheat in their tender overnight.
Sep 25 CBOT Wheat closed at $5.03 1/2, down 3 3/4 cents,
Dec 25 CBOT Wheat closed at $5.24 1/2, down 3 3/4 cents,
Sep 25 KCBT Wheat closed at $5.04 1/4, down 2 1/2 cents,
Dec 25 KCBT Wheat closed at $5.26, down 2 cents,
Sep 25 MGEX Wheat closed at $5.73 1/4, down 3 3/4 cents,
Dec 25 MGEX Wheat closed at $5.92 1/4, down 3 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
