Wheat Closes Mixed on Wednesday
Wheat futures closed mixed Wednesday. CBOT soft red wheat rose 2¼ cents (Sep \$5.07¼, Dec \$5.28¼). KC HRW weakened (Sep \$5.06¾, −4¢; Dec \$5.28, −2¢). MPLS spring wheat was little changed (Sep \$5.77, −¼¢; Dec \$5.96, +1¢). USDA export sales are expected at 400,000–850,000 MT; South Korea bought 50,000 MT.
The wheat complex closed mixed across the three markets on Wednesday. CBT soft red wheat futures led the bulls, with contracts 2 to 3 cents higher. KC HRW futures were down 2 to 4 cents in the front months on the session, as weakness remained. MPLS spring wheat was mixed, with nearby September down ¼ cent and December up a penny.
Export Sales data from USDA will be released on Thursday morning, as traders are looking for the export business to continue to come in as the US is competitive on the world market. Analysts are looking for the 2025/26 number to all in between 400,000 and 850,000 MT.
A South Korean importer purchased 50,000 MT of US wheat in their tender overnight.
Sep 25 CBOT Wheat closed at $5.07 1/4, up 2 1/4 cents,
Dec 25 CBOT Wheat closed at $5.28 1/4, up 2 1/4 cents,
Sep 25 KCBT Wheat closed at $5.06 3/4, down 4 cents,
Dec 25 KCBT Wheat closed at $5.28, down 2 cents,
Sep 25 MGEX Wheat closed at $5.77, down 1/4 cent,
Dec 25 MGEX Wheat closed at $5.96, up 1 cent.
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Source : BarChart
