Wheat Closes Mixed on Wednesday as China Cancels Some Business

The wheat complex posted mixed action on Wednesday, with HRW holding higher. Chicago SRW futures were down 2 to 3 ¼ cents on the day. KC HRW futures were up 2 to 3 cents at the close. MPLS spring wheat was down 3 cents in the nearby contracts on Wednesday.

USDA reported private export sale cancellation of 132,000 white wheat to China this morning.

Backlogged Commitment of Traders data showed managed money slashing 9,905 contracts from their net short position in the week ending on December 2, with the CBT wheat net short at 43,841 contracts of futures and options. In KC wheat, they were trimming the net short by 4,153 contracts to 17,911 contracts. 

A South Korean importer purchased a total of 20,800 MT of wheat to be originated from the US overnight.

Mar 26 CBOT Wheat  closed at $5.06 1/4, down 3 1/4 cents,

May 26 CBOT Wheat  closed at $5.17 1/4, down 2 1/4 cents,

Mar 26 KCBT Wheat  closed at $5.07 3/4, up 2 3/4 cents,

May 26 KCBT Wheat  closed at $5.20 1/4, up 2 3/4 cents,

Mar 26 MGEX Wheat  closed at $5.62, down 3 cents,

May 26 MGEX Wheat  closed at $5.73 1/2, 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.