Wheat Falling at Midday, with Weaker Export Sales
Wheat futures are posting Friday losses across the three exchanges on Friday. Chicago SRW futures are back down 6 3/4 cents in the December contract. KC HRW is trading with 9 1/2 cent losses in Dec. MPLS spring wheat is down 9 ¼ cents for December.
Friday morning’s USDA Export Sales report indicated just 340,032 MT of all wheat export sales in the week that ended on August 29. That was on the low-end estimates running 300,000 MT to 600,000 MT in that week and a 3-week low. The top buyer was Leeward and Windward Islands of 58,500 MT, with 51,800 MT sold to Mexico.
Canadian stocks will be updated on Monday morning via Stats Canada with the trade expecting to show wheat stocks at 3.555 MMT at the end of July.
Sep 24 CBOT Wheat is at $5.60 1/2, down 1/2 cent,
Dec 24 CBOT Wheat is at $5.68, down 6 3/4 cents,
Sep 24 KCBT Wheat is at $5.78, down 3 cents,
Dec 24 KCBT Wheat is at $5.79 1/4, down 9 1/2 cents,
Sep 24 MGEX Wheat is at $5.99, down 3/4 cent,
Dec 24 MGEX Wheat is at $6.16 1/2, down 9 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.