Wheat Falls Back at Midweek
Wheat futures experienced losses across major exchanges on Wednesday, reversing early gains. Chicago SRW futures dropped 4 to 5 cents, Kansas City HRW contracts fell 6 to 7 cents, and MPLS spring wheat saw declines of 5 to 7 cents. Traders expect wheat export sales between 250,000 and 500,000 MT for the week ending August 2. The upcoming Crop Production report is anticipated to show a slight increase in total wheat production to 2.015 billion bushels.
Wheat futures saw losses across the three exchanges on Wednesday, fading early morning gains. Chicago SRW futures were down 4 to 5 cents in the front months on the session. Kansas City HRW contracts were 6 to 7 cents lower. MPLS spring wheat saw losses of 5 to 7 cents in the front months on the midweek session.
Traders surveyed by Reuters are expecting to see a total between 250,000 to 500,000 MT of wheat sold for export in the week ending on August 2.
The monthly Crop Production report will be out on Monday, with the trade showing expectations for a slight increase to all wheat production at 2.015 bbu, up from 2.008 bbu in July.
Sep 24 CBOT Wheat closed at $5.38 1/4, down 5 cents,
Dec 24 CBOT Wheat closed at $5.62, down 4 1/2 cents,
Sep 24 KCBT Wheat closed at $5.55 1/2, down 6 cents,
Dec 24 KCBT Wheat closed at $5.72 1/4, down 6 cents,
Source Link : https://www.nasdaq.com/articles/wheat-falls-back-midweek?time=1723074225
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