The wheat complex is continuing the weaker trade across the three markets on Friday. CBT soft red wheat futures are trading with 3 to 4 cent losses. KC HRW futures are down 4 to 5 cents. MPLS spring wheat futures are showing fractional to a penny losses at midday
The US dollar index continues to bounce following the Fed rate cut, as it is up another $0.304 to $97.275.
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The weekly Export Sales report showed accumulated sales (shipped and unshipped) at 13.156 MMT, which is 20% larger than last year and a 5-year high for this week. That is 54% of the USDA wheat export projection and 1 point ahead f the 5-year average sale pace.
Dec 25 CBOT Wheat is at $5.21, down 3 1/4 cents,
Mar 26 CBOT Wheat is at $5.39 1/2, down 3 cents,
Dec 25 KCBT Wheat is at $5.05 3/4, down 4 1/4 cents,
Mar 26 KCBT Wheat is at $5.27 3/4, down 4 cents,
Dec 25 MGEX Wheat is at $5.70 3/4, down 1 cents,
Mar 26 MGEX Wheat is at $5.91 1/4, down 1/2 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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