Wheat Leaking Lower on Thursday AM Trade
The wheat market is continuing to slide lower, as contracts are facing another round of early morning weakness. Wheat posted mixed trade on Wednesday, with most contracts hard red contracts lower and soft red heading higher. Chicago SRW wheat was mostly 3 to 4 higher, vs. losses on Tuesday. Preliminary open interest rose 5,000 contracts on Tuesday. KC HRW futures were fractionally to a penny lower across the front months. Tuesday’s preliminary OI was up 2,601 contracts. MPLS spring wheat futures were down 1 to 2 cents.
USDA will release their Export Sales report on Thursday, with traders looking for 2025/26 wheat bookings in a range of 300,000 to 700,000 MT.
FranceAgriMer estimates soft wheat ending stocks for the French wheat crop at 3.87 MMT, which would be above the 2.33 MMT from last year. The Rosario Grains Exchange estimates the 2025/26 Argentina wheat crop at 20 MMT, vs. the 20.7 MMT reported last year.
Sep 25 CBOT Wheat closed at $5.41 1/4, up 3 1/4 cents, currently down 3 3/4 cents
Dec 25 CBOT Wheat closed at $5.61 3/4, up 3 cents, currently down 3 3/4 cents
Sep 25 KCBT Wheat closed at $5.22 3/4, down 1 cent, currently down 2 1/4 cents
Dec 25 KCBT Wheat closed at $5.45 1/4, down 3/4 cent, currently down 2 1/4 cents
Sep 25 MGEX Wheat closed at $6.00 1/2, down 1 3/4 cents, currently down 1 1/2 cents
Dec 25 MGEX Wheat closed at $6.20, down 1 1/4 cents, currently down 1 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.