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On Wednesday, the wheat complex experienced declines, with Chicago SRW futures down by 3 cents, KC HRW futures dropping by 2 to 4 cents, and MPLS spring wheat falling by 4 to 5 cents. The December CBT wheat had no deliveries, while 66 were issued against December KC wheat.
A South Korean importer purchased 30,300 MT of wheat, and Algeria’s recent tender resulted in purchases estimated between 810,000 and 900,000 MT. Canadian wheat production is forecasted at 38.49 million metric tons, according to a Reuters survey, ahead of the Statistics Canada report.
Closing prices for key futures included: Dec 25 CBOT Wheat at $5.37 3/4 (unchanged), Mar 26 CBOT Wheat at $5.38 1/4 (down 2 3/4 cents), Dec 25 KCBT Wheat at $5.21 (down 2 1/2 cents), and Dec 25 MGEX Wheat at $5.82 1/2 (down 11 1/4 cents).
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