Wheat Back to Slightly Higher Friday Morning Trade
Wheat futures are showing gains on Friday morning. The wheat complex was pressured lower on Thursday, with the US dollar index hitting a 1 year high, up 414 points. Chicago SRW futures were down 1 ½ to 3 3/4 cents across the board at the close. KC HRW contracts closed with losses of 5 to 6 1/4 cents. MPLS spring wheat was down 4 to 6 cents on the Thursday session. December wheat options expire today, with first notice day next Friday.
Export Sales data released on Thursday morning showed all wheat sales totaling 549,601 MT in the week that ended on November 14. That was on the high end of the 275,000 and 600,000 MT estimates and up 9.42% from the week prior. The largest buyer on the week was South Korea at 200,100 MT, with Mexico 91,000 MT.
Taiwan purchased 80,000 MT of US wheat in their tender on Thursday.
International Grains Council data released yesterday morning showed wheat production for the world estimated down 2 MMT to 796 MMT. Consumption was up 1 MMT, with stocks down 3 MMT for the world at 263 MMT.
Dec 24 CBOT Wheat closed at $5.48 3/4, down 3 3/4 cents, currently up 3/4 cent
Mar 25 CBOT Wheat closed at $5.69 1/2, down 2 3/4 cents, currently up 1 cent
Dec 24 KCBT Wheat closed at $5.55 1/2, down 6 1/4 cents, currently up 2 cents
Mar 25 KCBT Wheat closed at $5.67 1/4, down 5 1/2 cents, currently up 2 cents
Dec 24 MGEX Wheat closed at $5.88, down 4 cents, currently up 4 3/4 cents
Mar 25 MGEX Wheat closed at $6.02 1/4, down 5 cents, currently up 4 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.