The wheat market is showing mostly lower trade on Friday as March futures expires. Chicago SRW futures are mostly 6 to 8 cents in the red. KC HRW futures are down 2 to 3 cents on the session. There were another 11 deliveries against March KC wheat overnight, with 4 for March CBT wheat. MPLS spring wheat is slipping back 3 cents at midday.
The 7-day forecast for NOAA remains relatively dry for much of the Southern Plains. The portions of the SRW country expecting upwards of 1-3 inches.
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Total export commitments for wheat are now 21.274 MMT, an increase of 15% from last year at this date. That is 94% of USDA’s fresh export projection, still lagging the 98% average sales pace.
FranceAgriMer rated the soft wheat crop in France at 74% gd/ex, even with the week prior.
Mar 25 CBOT Wheat is at $5.47 1/4, up 8 1/2 cents,
May 25 CBOT Wheat is at $5.55 3/4, down 6 3/4 cents,
Mar 25 KCBT Wheat is at $5.75, up 13 1/4 cents,
May 25 KCBT Wheat is at $5.84 1/2, down 3 cents,
Mar 25 MGEX Wheat is at $5.90, up 9 1/2 cents,
May 25 MGEX Wheat is at $6.00 3/4, down 3 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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