Wheat Futures Experience Midday Losses Across the Board
Chicago, Kansas City, and Minneapolis Wheat Contracts Show Declines
Wheat futures are posting losses at midday throughout the wheat market. Chicago SRW futures are down slightly, with losses ranging from fractional up to 2 cents. Similarly, KC HRW futures have also dipped into negative territory. The MPLS spring wheat is showing a decline of 4 cents for the nearby contracts.
The USDA’s Export Sales report is anticipated to reveal that wheat sales for the 2024/25 period totaled between 200,000 and 600,000 metric tons (MT) for the week concluding on February 6. Meanwhile, sales for the 2025/26 crop year are estimated at 0 to 75,000 MT.
In Europe, FranceAgriMer projects French soft wheat exports outside of the EU at 3.4 MMT, down 0.1 MMT from the previous month. However, exports within the EU are expected to rise to 6.24 MMT.
On the global market, a South Korean importer purchased a total of 115,000 MT of feed wheat on Wednesday. Additionally, Japan’s weekly tender, scheduled for Thursday, seeks 123,979 MT from the US, Australia, and Canada, which includes 34,026 MT specifically from the US. In Algeria, a wheat purchase was made in a recent tender, with estimates between 550,000 and 600,000 MT.
Mar 25 CBOT Wheat is currently priced at $5.76 1/2, down 1/2 cent.
May 25 CBOT Wheat is now at $5.88 1/4, down 1 3/4 cents.
Mar 25 KCBT Wheat is trading at $5.92, down 3/4 cent.
May 25 KCBT Wheat is priced at $6.02, down 3/4 cent.
Mar 25 MGEX Wheat is at $6.14 1/4, down 4 cents.
May 25 MGEX Wheat is also at $6.27 1/4, down 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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
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