Wheat Closes Mixed, with Spring Wheat Stronger
The USDA Export Sales report, expected to total 300,000 MT to 600,000 MT, will be delayed until Friday morning due to the Labor Day holiday ². Additionally, Japan purchased 87,660 MT of wheat from the US and Canada, with 63,730 MT sourced from the US ². The French wheat crop was estimated at 25.98 MMT, a 26% drop from last year ².
Wheat futures saw some mixed trade, with contracts pulling off their early session weakness on Thursday. Chicago SRW futures were back down 4 to 6 cents in the nearbys. KC HRW posted 4 to 5 cent losses in the front months. MPLS spring wheat was 2 ¼ cents higher in the Dec contract.
The USDA Export Sales report will be delayed until Friday morning due to the Labor Day holiday pushing things back. All wheat export business is expected to total 300,000 MT to 600,000 MT in that week.
Japan purchased 87,660 MT of wheat from the US and Canada, with 63,730 MT sourced from the US. The French wheat crop was estimated at 25.98 MMT according to the producer group AGPB, a 26% drop from last year and below the French ag ministry’s 26.32 MMT.
Sep 24 CBOT Wheat closed at $5.61, down 4 1/4 cents,
Dec 24 CBOT Wheat closed at $5.74 3/4, down 6 cents,
Sep 24 KCBT Wheat closed at $5.81, down 4 1/4 cents,
Dec 24 KCBT Wheat closed at $5.88 3/4, down 4 1/4 cents,
Sep 24 MGEX Wheat closed at $5.99 3/4, unch
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Source Link : https://www.nasdaq.com/articles/wheat-closes-mixed-spring-wheat-stronger
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