Wheat Posting Modest Weakness on Thursday

The wheat complex is showing losses in the three exchanges on Thursday, fading off some early gains. Chicago SRW contracts are down 3 to 4 cents across the front months. KC HRW futures are showing Thursday losses of 2 to 3 cents at midday. MPLS spring wheat is down 2 to 4 cents across the front months at midday

Exports Sales data from this morning showed 451,562 MT of wheat sold in the week ending on October 1, on the higher side of traders looking for between 200,000 and 500,000 MT. That was the second largest for the marketing year, but still just half of the same week last year.

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  is at $6.83 1/4, down 3 1/4 cents,

Mar 27 CBOT Wheat  is at $6.97 1/4, down 3 3/4 cents,

Dec 26 KCBT Wheat  is at $7.36 1/2, down 2 cents,

Mar 27 KCBT Wheat  is at $7.49 1/4, down 2 3/4 cents,

Dec 26 MIAX Wheat  is at $7.07 3/4, down 2 1/2 cents,

Mar 27 MIAX Wheat  is at $7.25, down 3 3/4 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.