The three wheat markets are heading lower so far on Thursday, with the US dollar index hitting a 1 year high. Chicago SRW futures are down 1 to 2 cents across the nearbys. KC HRW contracts are closing with losses of 5 to 6 cents at midday. MPLS spring wheat is down 3 to 4 cents as the market trades through the Thursday session.
Export Sales data released this morning showed all wheat sales totaling 549,601 MT in the week that ended on November 14. That was on the high end of the 275,000 and 600,000 MT estimates and up 9.42% from the week prior. The largest buyer on the week was South Korea at 200,100 MT, with Mexico 91,000 MT.
Taiwan purchased 80,000 MT of US wheat in their tender overnight.
International Grains Council data released this morning showed wheat production for the world estimated down 2 MMT to 796 MMT. Consumption was up 1 MMT, with stocks down 3 MMT for the world at 263 MMT.
Dec 24 CBOT Wheat is at $5.50 3/4, down 1 3/4 cents,
Mar 25 CBOT Wheat is at $5.70 3/4, down 1 1/2 cents,
Dec 24 KCBT Wheat is at $5.55 3/4, down 6 cents,
Mar 25 KCBT Wheat is at $5.67 1/4, down 5 1/2 cents,
Dec 24 MGEX Wheat is at $5.88 1/2, down 3 1/2 cents,
Mar 25 MGEX Wheat is at $6.03 1/2, down 3 3/4 cents,
On the date of publication,
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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
