Wheat Mixed at Midday
Wheat markets are trading with mixed action on Wednesday. Chicago SRW futures are down 1-2 cents, while Kansas City HRW contracts have gained 3-5 cents. MPLS spring wheat is slightly lower. USDA’s export sales report is expected to show net sales between -100,000 MT to 300,000 MT for 2024/25 wheat.
Wheat is trading with mixed action on Wednesday. Chicago SRW futures are posting midday losses of 1 to 2 cents. Kansas City HRW contracts are trading with 3 to 5 cent gains so far. MPLS spring wheat is 1 to 2 cents lower at midday.
USDA’s Export Sales report is expected to show between net reductions of 100,000 MT to net sales of 300,000 MT for 2024/25 wheat for the week ending on March 27. New crop sales are pegged in a range of 0 to 200,000 MT.
The US markets are not the only with weaker price action, as French milling wheat futures are just off fresh multi-month lows.
May 25 CBOT Wheat is at $5.39 1/4, down 1 1/4 cents,
Jul 25 CBOT Wheat is at $5.52 3/4, down 1 cent,
May 25 KCBT Wheat is at $5.69 1/2, up 4 1/4 cents,
Jul 25 KCBT Wheat is at $5.80, up 3 1/4 cents,
May 25 MGEX Wheat is at $5.93, down 1 cent,
Jul 25 MGEX Wheat is at $6.08 3/4, down 1 1/4 cents,
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Source : Nasdaq.com
