Wheat Posts Modest Weakness on Friday

The wheat complex posted mostly weaker trade on Friday, though futures held on to the weekly gains. Chicago SRW futures were down 1 to 3 cents weaker on to close out the week, as March was 9 ¼ cents higher this week. KC HRW futures were steady to fractionally lower in the front months, with nearby March up 18 ¼ cents over last Friday. MPLS spring wheat saw fractional to penny losses on Friday, with the front month March contract up 1 ¼ cents on the week.

The forecast for the next 7 days showed light precip for parts of the Plains, with some SRW country looking at heavier totals.

Weaker trade may have been associated with a meeting this Sunday between President Trump and Ukraine’s president Zelensky to discuss peace talks.

Mar 26 CBOT Wheat  closed at $5.19, down 2 3/4 cents,

May 26 CBOT Wheat  closed at $5.30 3/4, down 1 1/2 cents,

Mar 26 KCBT Wheat  closed at $5.33 1/2, down 1/2 cent,

May 26 KCBT Wheat  closed at $5.46, unch,

Mar 26 MGEX Wheat  closed at $5.79 1/4, down 1 cent,

May 26 MGEX Wheat  closed at $5.90 1/2, down 3/4 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.