Wheat Slipping Lower to Start Friday
Wheat futures showed gains on Thursday but are trading lower early Friday. Concerns over cold temperatures in the Black Sea region supported prices. USDA reported 438,867 MT in weekly wheat export sales, with Mexico as the top buyer. Japan and South Korea also made purchases. Futures are now seeing slight declines after Thursday’s gains.
The wheat complex is showing weaker trade as we begin the Friday session. Wheat futures posted gains across the three exchanges on Thursday. Chicago SRW futures were up 14 to 16 cents in the nearbys to close out the day. KC HRW futures were 15 to 16 cents higher in the front months on the session. MPLS spring wheat was 9 to 10 cents in the green on the day. Forecasts for cold temps across the Black Sea region with little snow cover gave the market a boost.
USDA released their weekly Export Sales report on Thursday morning, showing 438,867 MT in all wheat sales for the week ending on January 30. That was in line with traders estimates of 200,000-550,000 MT. Mexico was the top buyer of 122,000 MT, with 111,000 MT sold to unknown Sales for 2025/26 were tallied at 47,296 MT, on the high end of the expected 0-50,000 MT.
Japan has purchased 96,725 MT in their weekly tender from the US and Canada, with 64,545 US specific. South Korean importers purchased a total of 30,000 MT of US and Canadian what, with 22,700 MT US specific.
Mar 25 CBOT Wheat closed at $5.87 3/4, up 15 1/2 cents, currently down 3 1/2 cents
May 25 CBOT Wheat closed at $5.98 3/4, up 14 1/4 cents, currently down 3 cents
Mar 25 KCBT Wheat closed at $6.07 1/2, up 15 3/4 cents, currently down 3 3/4 cents
May 25 KCBT Wheat closed at $6.16 1/4, up 15 cents, currently down 3 1/4 cents
Mar 25 MGEX Wheat closed at $6.28 1/2, up 10 cents, currently down 4 cents
May 25 MGEX Wheat closed at $6.38, up 9 3/4 cents, currently down 3 1/4 cents .
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Source : Nasdaq.com
