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“Wheat Prices Decline on Thursday”

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Wheat Futures Experience Midday Losses Amid Mixed Demand

Wheat futures are facing midday declines across all three exchanges on Thursday. The Chicago SRW market is down 6 to 7 cents. Kansas City (KC) Hard Red Winter (HRW) wheat is reporting losses of 8 to 9 cents at midday, while Minneapolis (MPLS) spring wheat futures have declined by 5 to 6 cents.

This morning’s weekly Export Sales report revealed strong wheat sales for the week ending January 9, totaling 513,424 MT. This figure surpassed analysts’ expectations, which fell between 150,000 and 400,000 MT. However, it remains 27.44% lower than the same period last year. South Korea led the buying with 131,800 MT, followed closely by 114,700 MT sold to Taiwan.

The International Grains Council has updated its global wheat stock estimates, raising it by 2 MMT to a total of 265 MMT. This number still reflects an 8 MMT decline compared to last year. Similarly, Strategie Grains has adjusted its estimates for EU wheat production, increasing it by 0.6 MMT to 127.2 MMT.

In Asia, Japan has secured a total of 132,888 MT of wheat in its latest tender. This shipment will come from the US, Canada, and Australia, including 48,308 MT sourced specifically from the US.

Mar 25 CBOT Wheat is trading at $5.40 3/4, down 6 1/4 cents.

May 25 CBOT Wheat is at $5.52 1/4, down 6 1/2 cents.

Mar 25 KCBT Wheat stands at $5.48 3/4, down 8 3/4 cents.

May 25 KCBT Wheat is at $5.59, down 8 1/2 cents.

Mar 25 MGEX Wheat is trading at $5.82 1/2, down 5 cents.

May 25 MGEX Wheat is at $5.92 1/2, down 5 1/2 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.

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

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