Wheat is trading 3 to 8 cent gains across the three markets on Friday. The wheat complex slipped back on Thursday, with contracts marginally lower. Chicago SRW contracts saw nearby losses of 1 to 3 cents on the day. Open interest was up 6,265 contracts on Thursday. KC HRW futures posted front month losses of 2 to 3 ½ cents on the day. MPLS spring wheat posted gains of 2 to 3 cents on Thursday.
The weekly USDA Export Sales report from Thursday showed just 235,102 MT of wheat was sold in the week ending July 9. That was the lowest for the new marketing year to date, and less than half of the same week last year. Japan was the buyer of 66,600 MT, with 45,100 MT sold to Mexico.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.The France AgriMer estimates French wheat crop at 65% good/excellent, steady from the previous week. Harvest was taken to 92% complete as of July 13. The International Grains Council (IGC) left its world wheat production estimate UNCH at 821 MMT on Thursday.
Sep 26 CBOT Wheat closed at $6.74 3/4, down 2 3/4 cents, currently up 2 3/4 cents
Dec 26 CBOT Wheat closed at $6.91, down 1 cent, currently up 3 cents
Sep 26 KCBT Wheat closed at $7.16 1/2, down 3 1/2 cents, currently up 8 1/2 cents
Dec 26 KCBT Wheat closed at $7.31 1/4, down 2 cents, currently up 8 1/4 cents
Sep 26 MIAX Wheat closed at $6.85 1/4, up 2 cents, currently up 3 1/4 cents
Dec 26 MIAX Wheat closed at $7.09 1/2, up 3 cents, currently up 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.- Weather Problems Create a Buying Opportunity in Wheat Prices Here
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