Wheat Closes with Friday Weakness
Wheat futures showed mixed performance Friday. CBT soft red wheat was mostly steady, with December down 4½ cents weekly. KC HRW futures fell 1–2 cents, December down 8½ cents. MPLS spring wheat dipped slightly, December 8 cents lower. Taiwan bought 80,550 MT of U.S. wheat; Argentina’s crop rated 93% good/excellent.
The wheat complex posted mixed trade on Friday, with the hard red contracts weaker. CBT soft red wheat futures closed the session fractionally mixed, as December was 4 ½ cents lower this week. KC HRW futures fell back 1 to 2 cents on Friday, with December slipping back 8 ½ cents since last Friday. MPLS spring wheat futures were fractionally lower at the close, with Decmeber 8 cents in the red on the week.
Winter wheat planting may be delayed in portions of north-central KS in the next week, with totals of 1 to 2 inches expected.
Taiwan flour mill importers purchased a total of 80,550 MT of wheat from the US in a tender overnight. The Buenos Aires Grain Exchange estimates the Argentina wheat crop at 93% good/excellent, a 4 point improvement from last week, with their production estimate at 22 MMT.
Dec 25 CBOT Wheat closed at $5.15 1/4, up 1/2 cent,
Mar 26 CBOT Wheat closed at $5.32 1/2, unch,
Dec 25 KCBT Wheat closed at $4.97, down 2 cents,
Mar 26 KCBT Wheat closed at $5.18 1/2, down 1 1/2 cents,
Dec 25 MGEX Wheat closed at $5.60 3/4, down 3/4 cent,
Mar 26 MGEX Wheat closed at $5.80 1/2, down 3/4 cent .
To Read more about Wheat News continue reading Agriinsite.com
Source : BarChart
