Wheat Market Update: Fluctuations Amidst Mixed Signals

Mixed Trading Patterns Seen Across Wheat Markets

The wheat market is showing mixed results as trading approaches midday on Friday. While the Chicago SRW market is slightly higher, Kansas City (KC) HRW is experiencing minor losses of up to 1 cent. In contrast, MPLS spring wheat futures have also shown small gains today.

Holiday Closures Impact Trading Schedule

Trading will pause on Monday due to Martin Luther King Jr. Day, with normal operations resuming on Tuesday.

Export Sales Report Highlights Weakness

The weekly Export Sales report released on Thursday noted that wheat sales for the week ending January 9 reached 513,424 metric tons (MT). This brings the total sales and shipments for the marketing year to 17.705 million metric tons (MMT), which is 77% of the U.S. Department of Agriculture’s (USDA) projection. This figure is lower than the 85% average sales pace typically expected at this time of year.

Current Wheat Prices

Mar 25 CBOT Wheat is valued at $5.38, marking an increase of 1/2 cent.

May 25 CBOT Wheat is priced at $5.50 1/4, up by 3/4 cent.

Mar 25 KCBT Wheat shows a value of $5.47 1/2, down 3/4 cent.

May 25 KCBT Wheat is at $5.57 1/2, decreasing by 1 cent.

Mar 25 MGEX Wheat is trading at $5.82 1/4, up 3/4 cent.

May 25 MGEX Wheat stands at $5.92 1/4, also up 3/4 cent.

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.