Wheat Market Shows Mixed Results Amid Farmer Expectations

The wheat market displayed varied outcomes on Wednesday. The Chicago SRW market emerged as the strongest performer, seeing a slight increase in nearby contracts. In contrast, KC HRW experienced losses, dipping between 2 to 4 cents for front-month contracts by the close. Meanwhile, MPLS spring wheat futures were stable, finishing steady to down 2 cents.

Traders will be awaiting the release of the weekly Export Sales report on Thursday morning. Expectations for wheat sales during the week of January 9 are set between 150,000 to 400,000 metric tons.

FranceAgriMer adjusted its forecast for soft wheat stocks, predicting a slight increase to 2.9 million metric tons, rising by 0.03 million metric tons from the previous month, following minor adjustments in EU export figures.

Mar 25 CBOT Wheat closed at $5.47, up 3/4 cent.

May 25 CBOT Wheat closed at $5.58 3/4, up 1/2 cent.

Mar 25 KCBT Wheat closed at $5.57 1/2, declining by 3 1/4 cents.

May 25 KCBT Wheat closed at $5.67 1/2, down 2 3/4 cents.

Mar 25 MGEX Wheat ended at $5.87 1/2, down 2 cents.

May 25 MGEX Wheat settled at $5.98, decreasing by 1/4 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.

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