Wheat futures closed lower across all markets on December 30, 2023, with Chicago SRW down 2 to 3 cents, KC HRW down 5 to 6 cents, and MPLS spring wheat fractionally lower. The KC HRW futures open interest increased by 6,890 contracts, while preliminary open interest across other exchanges decreased by 8,181 contracts. The markets will be closed on January 1 for New Year’s Day, reopening at 8:30 am CST on January 2.
Analysts expect Export Sales data, set for release, to show net reductions between 50,000 MT and sales of 400,000 MT for the week ending December 18. Additionally, Argentina’s wheat crop is projected to be 27.8 million metric tons, reflecting a 0.7 million metric ton increase from previous estimates.
