Wheat Trading with Marginal Thursday AM Strength

Wheat is showing 1 to 2 cent gains across most contracts on Thursday morning. The wheat complex failed follow through from Tuesday’s strength on Wednesday, with weakness. Chicago SRW contracts were down 13 ¾ to 17 ¾ cents across the board. Open interest was up 2,739 contracts. KC HRW futures posted losses of 13 ½ to 17 ¾ cents at the Wednesday close. OI was up 2,454 contracts. MPLS spring wheat saw losses of 6 ¾ to 9 ½ cents on the day.

Exports Sales data will be released on Thursday, with traders looking for between 200,000 and 500,000 MT of wheat sold in the week ending on October 1.

Analysts surveyed by Bloomberg are looking for US wheat stock to be raised by 4 mbu to 721 mbu in the WASDE this Friday.

A Taiwan flour mill purchased 105,800 MT of wheat from the US in a tender overnight.

Dec 26 CBOT Wheat  closed at $6.86 1/2, down 17 3/4 cents, currently up 1 3/4 cents

Mar 27 CBOT Wheat  closed at $7.01, down 16 1/2 cents, currently up 1 1/2 cents

Dec 26 KCBT Wheat  closed at $7.38 1/2, down 17 3/4 cents, currently up 1 1/2 cents

Mar 27 KCBT Wheat  closed at $7.52, down 17 cents, currently up 1 1/4 cents

Dec 26 MIAX Wheat  closed at $7.10 1/4, down 9 1/2 cents, currently up 1/4 cent

Mar 27 MIAX Wheat  closed at $7.29 3/4, down 8 cents, currently down 1/4 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.