Wheat Closes Mixed on Wednesday
The U.S. wheat market saw a quiet trading day, with winter wheat posting small gains while spring wheat eased slightly. Traders remained cautious ahead of the expected Trump–Xi meeting. Export sales for the week are projected between 350,000 and 600,000 MT, keeping market sentiment generally stable.
The wheat complex was mixed on Wednesday, with winter wheat the strongest. CBT soft red wheat was 2 to 3 ¼ cents higher at the final. KC HRW futures were steady to 3 cents higher in the front months on Wednesday. MPLS spring wheat futures saw weaker trade at the close, with contracts down 1 to 2 cents.
The market was quiet on Wednesday ahead of the Trump/Xi meeting later this evening.
Despite the lack of USDA data release, the trade is looking for wheat export business during the week of October 23 to have totaled 350,000 to 600,000 MT.
Dec 25 CBOT Wheat closed at $5.32 1/4, up 3 1/4 cents,
Mar 26 CBOT Wheat closed at $5.47 3/4, up 2 cents,
Dec 25 KCBT Wheat closed at $5.22 3/4, up 2 3/4 cents,
Mar 26 KCBT Wheat closed at $5.38, unch,
Dec 25 MGEX Wheat closed at $5.61 1/2, down 1 1/4 cents,
Mar 26 MGEX Wheat closed at $5.80, down 1 3/4 cents .
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Source : BarChart
