Wheat Showing Mixed Trade on Friday Morning

Wheat is mixed, with KC the weakest and down 2 cents and MPLS the firmest. The wheat complex found strength midway through the Thursday session following China rumors and a marketing year high in export business. Chicago SRW contracts were up 1 to 4 ¾ cents. Open interest was up 3,267 contracts on Thursday, suggesting modest new buying. KC HRW futures were 1 ¼ to 2 ¼ cents higher at the close. OI rose 3,141 contracts. MPLS spring wheat was up 2 ¾ to 5 cents on the session.

There were wire reports on Thursday of China’s COFCO inquiring on US SRW wheat for import. 

Export Sales data from Thursday showed a marketing year high of 846,770 MT of wheat sales in the week ending on 10/22. That was 70.03% above the same week last year. The Philippines was the top buyer of 2126,300 MR, with 154,000 MT sold to South Korea and 140,000 MT to Indonesia. Bookings for 2027/28 were tallied at 22,000 MT, all to Peru.

A South Korean mill importer purchased 50,000 MT of US wheat overnight. The FranceAgriMer estimate the country’s wheat crop at 62% planted as of 10/26, lagging the 67% pace from last year. 

Dec 26 CBOT Wheat  closed at $6.03 3/4, up 4 3/4 cents, currently down 1/2 cent

Mar 27 CBOT Wheat  closed at $6.17 1/4, up 4 cents, currently down ¼ cent

Dec 26 KCBT Wheat  closed at $6.45 1/4, up 2 1/4 cents, currently down 1 3/4 cents

Mar 27 KCBT Wheat  closed at $6.54 3/4, up 1 1/2 cents, currently down 1 12 cents

Dec 26 MIAX Wheat  closed at $6.25 1/2, up 4 3/4 cents, currently up 1/2 cent

Mar 27 MIAX Wheat  closed at $6.42 1/4, up 5 cents, currently up 1 1/2 cents