Wheat Closes Mixed, as Winter Wheat Continues Under Pressure
U.S. wheat markets were mixed on Thursday, with winter wheat futures declining and spring wheat rising slightly. CBOT soft red wheat fell up to 1.25 cents, KC HRW dropped 3–4 cents, while MPLS spring wheat gained 1–2 cents. EU production was revised to 136.4 MMT; Russia plans a 6.2% wheat area cut.
The wheat complex was mixed on Thursday, as the winter wheats continue to grind lower. CBT soft red wheat futures were down fractionally to 1 ¼ cents on the day. KC HRW futures were down 3 to 4 cents on the day. MPLS spring wheat futures were 1 to 2 cents higher to close the day.
Weather remains dry for the heart of winter wheat country over the next week.
Expana increased their EU wheat production estimate by 0.3 MMT to 136.4 MMT. Russia’s deputy ag minister stated the country expects to cut back winter and spring wheat area by 6.2% this year, with acres shifting to oilseeds.
Dec 25 CBOT Wheat closed at $5.06 1/2, down 3/4 cent,
Mar 26 CBOT Wheat closed at $5.24, down 1 1/4 cents,
Dec 25 KCBT Wheat closed at $4.89 3/4, down 3 1/2 cents,
Mar 26 KCBT Wheat closed at $5.11 1/4, down 3 3/4 cents,
Dec 25 MGEX Wheat closed at $5.57, up 1 1/2 cents,
Mar 26 MGEX Wheat closed at $5.77 1/4, up 2 cents.
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Source : Nasdaq.com
