Wheat Prices Slide Ahead of Thanksgiving

Market Overview: Wheat Futures Decline Before Holiday Break

Wheat markets are experiencing a downturn as we approach Thanksgiving. Chicago SRW futures have dropped between 6 to 9 cents across most contracts. Meanwhile, KC HRW contracts are down 11 to 13 cents in today’s trading, with December contracts slipping 24 cents ahead of First Notice Day. MPLS spring wheat is also under pressure, with declines of 10 to 15 cents.

Market Hours Update

With Thanksgiving holiday approaching, both the government and markets will be closed this Thursday. Markets will have a shortened session on Friday, opening briefly before closing at 12:05 PM CST.

Projected Export Sales for Wheat

Market participants are awaiting Friday morning’s Export Sales report. A Reuters survey suggests expectations for wheat sales between 200,000 and 600,000 MT for the week of November 21.

International Tender Insights

On Tuesday, Algeria’s tender indicated purchases of approximately 140,000 to 150,000 MT. Additionally, milling wheat futures faced some challenges on Wednesday.

Current Futures Prices

Dec 24 CBOT Wheat is trading at $5.33 1/4, down 6 1/4 cents.

Mar 25 CBOT Wheat is currently at $5.49, reflecting a decrease of 9 cents.

Dec 24 KCBT Wheat stands at $5.26 1/2, down 24 cents.

Mar 25 KCBT Wheat is at $5.45 1/2, a drop of 13 1/4 cents.

Dec 24 MGEX Wheat has reached $5.62 1/4, down 15 1/4 cents.

Mar 25 MGEX Wheat is priced at $5.91 1/4, down 10 1/4 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.