The wheat market was mixed on Tuesday, as the soft red contracts led the charge higher, with spring wheat lagging behind. CBT soft red wheat futures were 5 to 7 cents in the green at the Tuesday close. KC HRW futures saw gains of 2 to 5 cents in the nearbys on Tuesday. MPLS spring wheat futures closed the Tuesday session with contracts down 1 to 3 cents.
The market continued to see some buying with reports of Chinese interest in US wheat, though we don’t have any confirmation of any purchases due to the government shutdown limiting Export Sales data.
EU wheat exports have totaled 8.03 MMT from July 1 to November 2 according to European Commission data, now down 0.29 MMT from the same period last year.
Dec 25 CBOT Wheat closed at $5.50 1/4, up 6 3/4 cents,
Mar 26 CBOT Wheat closed at $5.62 3/4, up 5 1/4 cents,
Dec 25 KCBT Wheat closed at $5.36 1/2, up 4 3/4 cents,
Mar 26 KCBT Wheat closed at $5.49, up 2 1/2 cents,
Dec 25 MGEX Wheat closed at $5.57 1/4, down 1 1/4 cents,
Mar 26 MGEX Wheat closed at $5.75 1/4, down 2 1/4 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.
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