Wheat Market Faces Decline Before Christmas Break
Wheat prices dropped across the three major exchanges as the holiday approaches. Chicago SRW futures experienced a loss of 3 ¾ to 5 ¾ cents during Tuesday’s session. Meanwhile, KC HRW contracts saw a decrease of 6 ¼ to 7 ¼ cents. MPLS spring wheat futures were also down, losing 5 to 6 cents.
Looking ahead, rain is anticipated for the eastern parts of the Plains this coming week, while the western regions are expected to stay dry. Some areas in the SRW regions could receive 1-2 inches of precipitation.
The market will close for all of Wednesday in observance of Christmas, reopening at 8:30 am CST on Thursday.
In related news, Algeria made a tender for an undisclosed amount of wheat on Tuesday.
Mar 25 CBOT Wheat closed at $5.34 3/4, down 5 3/4 cents.
May 25 CBOT Wheat closed at $5.45 1/4, down 5 3/4 cents.
Mar 25 KCBT Wheat closed at $5.43 3/4, down 7 1/4 cents.
May 25 KCBT Wheat closed at $5.51 3/4, down 7 1/4 cents.
Mar 25 MGEX Wheat closed at $5.89 1/2, down 6 cents.
May 25 MGEX Wheat closed at $5.97 3/4, down 5 3/4 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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
