Wheat Prices Drop on Friday While Spring Wheat Remains Steady

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On Friday, the wheat market showed mixed results, with winter wheat contracts declining. CBT soft red wheat futures fell by 7 to 8 cents, while KC HRW futures decreased by 4 to 6 cents. In contrast, MPLS spring wheat futures rose by 1 to 2 cents. Additionally, a South Korean mill importer purchased 50,000 MT of US wheat in a recent tender.

As of November 3, French soft wheat planting reached 79%, up 11 points from the previous week, according to FranceAgriMer. In Argentina, wheat harvest is approximately 11.6% complete, as reported by the Buenos Aires Grain Exchange.

Current prices include: Dec 25 CBOT Wheat at $5.27 1/2 (down 8 cents), Mar 26 CBOT Wheat at $5.42 (down 7 3/4 cents), Dec 25 KCBT Wheat at $5.18 1/4 (down 4 cents), and Dec 25 MGEX Wheat at $5.58 1/2 (up 1 1/2 cents).

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