Wheat Markets Decline as Export Sales Rise

Friday’s Trading Sees Wheat Prices Slip Across Exchanges

The wheat market is experiencing a downturn on Friday across three major exchanges. Chicago SRW futures are down by 17 to 19 cents. Meanwhile, KC HRW contracts have decreased by 13 to 14 cents. MPLS spring wheat is also down by 10 to 11 cents.

Export Sales Surge to Seven-Week High

A delayed Export Sales report revealed a significant rise, with 504,112 MT of wheat booked during the week of October 10. This figure topped estimates of 250,000 to 550,000 MT and marked a 16.27% increase from the previous week. Mexico led the purchases with 135,000 MT, followed by the Philippines at 70,000 MT.

FranceAgriMer Reports on Wheat Planting

According to FranceAgriMer, France’s soft wheat crop is 10% planted as of October 14.

Current Wheat Futures Prices

Dec 24 CBOT Wheat is priced at $5.71 1/4, down 18 1/4 cents.

Mar 25 CBOT Wheat is at $5.92, down 17 1/2 cents.

Dec 24 KCBT Wheat is priced at $5.82 3/4, down 13 1/4 cents.

Mar 25 KCBT Wheat stands at $5.97, down 13 cents.

Dec 24 MGEX Wheat is at $6.18 1/4, down 10 1/2 cents.

Mar 25 MGEX Wheat is at $6.40, down 10 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.