Wheat Falling Again to Start Wednesday

Wheat is posting early Wednesday losses of 3 to 11 cents. The wheat complex posted weakness across the three exchanges on Tuesday. Chicago SRW contracts were 5 ¾ to 12 cents lower on Tuesday. Open interest was up 3,244 contracts, suggesting new short interest. KC HRW futures were down 4 ¼ to 8 ½ cents on the day.  OI rose 2,138 contracts MPLS spring wheat saw losses of 3 ½ to 8 ¼ cents at the close

Weekly NASS Crop Progress data showed 63% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 6 percentage points. Planting pace was lagging in KS (-9%), MI (-10%), and OH (-22%). Emergence was at 39%.

European Commission data showed EU wheat exports at 8.47 MMT from July 1 to October 18, matching the export pace from last year. 

Dec 26 CBOT Wheat  closed at $6.43 1/4, down 12 cents, currently down 8 1/2 cents

Mar 27 CBOT Wheat  closed at $6.58 1/2, down 11 1/2 cents, currently down 9 cents

Dec 26 KCBT Wheat  closed at $6.91, down 8 1/2 cents, currently down 11 1/2 cents

Mar 27 KCBT Wheat  closed at $7.03, down 8 1/2 cents, currently down 11 3/4 cents

Dec 26 MIAX Wheat  closed at $6.62 3/4, down 8 1/4 cents, currently down 3 1/2 cents

Mar 27 MIAX Wheat  closed at $6.79, down 8 cents, currently 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.