Wheat Falling into the Weekend
Wheat prices are declining across major exchanges, with Chicago SRW futures down 17 to 19 cents and KC HRW contracts falling 13 to 14 cents. A delayed Export Sales report showed bookings reached a seven-week high of 504,112 MT. Mexico led purchases with 135,000 MT. France’s soft wheat crop is 10% planted as of October 14.
The wheat complex is falling lower on Friday across all three exchanges. Chicago SRW futures are down 17to 19 cents so far on the day. KC HRW contracts are down 13 to 14 cents on the session. MPLS spring wheat is back down 10 to 11 cents.
A delayed Export Sales report showed a 7-week high of 504,112 MT of wheat booked in the week of October 10. That was on the higher side of the 250,000 to 550,000 MT estimates and up 16.27% from last week. Mexico was the lead buyer of 135,000 MT, with the Philippines purchasing 70,000 MT.
The FranceAgriMer showed the country’s soft wheat crop at 10% planted as of October 14.
Dec 24 CBOT Wheat is at $5.71 1/4, down 18 1/4 cents,
Mar 25 CBOT Wheat is at $5.92, down 17 1/2 cents,
Dec 24 KCBT Wheat is at $5.82 3/4, down 13 1/4 cents,
Mar 25 KCBT Wheat is at $5.97, down 13 cents,
Dec 24 MGEX Wheat is at $6.18 1/4, down 10 1/2 cents.
Source Link : https://www.nasdaq.com/articles/wheat-falling-weekend
