Wheat Showing Mixed Action on Friday
Wheat is trading mixed on Friday, with winter wheat contracts lower and spring wheat higher. The wheat complex posted mixed trade on Thursday. Chicago SRW futures were steady to a penny higher at the close. KC contracts were the strong point for the complex, up 3 to 5 cents higher. MPLS spring wheat saw weakness on Thursday, with contracts down 2 to 3 cents.
USDA’s Export Sales report showed a marketing year high 712,179 MT in wheat sales for the week that ended on July 17, which was 44.06% above the week prior and more than double the same week last year. Indonesia was the top buyer of 117,200 MT, with Taiwan in for 92,100 MT, and 86,500 MT to Mexico.
The final results for the spring wheat tour estimated the North Dakota yield at 49.0 bpa, which is below the 54.5.7 bpa average last year, but above the 44.6 bpa 5-year average.
A South Korean importer purchased a total of 85,200 MT of wheat from the US on Friday morning. FranceAgriMer estimates the soft wheat harvest at 86% complete, up from 71% last week.
Sep 25 CBOT Wheat closed at $5.41 1/2, up 1 cent, currently down 3 ½ cents
Dec 25 CBOT Wheat closed at $5.61 1/4, unch, currently down 3 ¼ cents
Sep 25 KCBT Wheat closed at $5.28 1/2, up 5 cents, currently down 2 ¾ cents
Dec 25 KCBT Wheat closed at $5.49 3/4, up 3 3/4 cents, currently down 2 ¾ cents
Sep 25 MGEX Wheat closed at $5.86 1/2, down 2 1/2 cents, currently up ½ cent
Dec 25 MGEX Wheat closed at $6.07 3/4, down 2 3/4 cents, currently up 1 ¼ 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.