The wheat complex saw weakness across most contracts on Wednesday. Chicago SRW futures were steady to 3 cents in the red on the day. KC HRW futures were down 2 to 4 cents on Wednesday. MPLS spring wheat was 4 to 5 cents lower at the close. There were no deliveries issued against December CBT wheat overnight, with another 66 against December KC wheat.
Export Sales data for the week ending on October 31 will be out on Thursday, with traders looking for between 250,000 and 650,000 MT in wheat bookings.
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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 810,000 and 900,000 MT.
Canadian wheat production is estimated at 38.49 MMT according to a Reuters survey of analysts, ahead of the Statistics Canada report on Thursday.
Dec 25 CBOT Wheat closed at $5.37 3/4, unch,
Mar 26 CBOT Wheat closed at $5.38 1/4, down 2 3/4 cents,
Dec 25 KCBT Wheat closed at $5.21, down 2 1/2 cents,
Mar 26 KCBT Wheat closed at $5.29 1/2, down 3 1/2 cents,
Dec 25 MGEX Wheat closed at $5.82 1/2, down 11 1/4 cents,
Mar 26 MGEX Wheat closed at $5.76 1/4, down 4 1/2 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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