Wheat Falls Back on Wednesday
Wheat futures declined on Wednesday across all major markets. Chicago SRW futures fell 11-13 cents, KC HRW dropped 13-14 cents, and MPLS spring wheat was down 7-8 cents. Snowfall in the central Plains helped ease concerns over subzero temperatures. Texas reported 33% of its wheat crop in good/excellent condition, a 3% drop from last week.
Wheat was falling on Wednesday, with contracts down across the three markets. Chicago SRW futures saw weakness on the session, with contracts down 11 to 13 cents. KC HRW futures posted losses of 13 to 14 cent on Wednesday. MPLS spring wheat was also heading lower, with losses of 7 to 8 cents.
Snow fall across parts of the central Plains on Tuesday is easing some concerns with the sub zero temps this week.
Texas released their state Crop Progress report on Monday, showing 33% of the crop in gd/ex conditions, a 3% reduction from last week. The Brugler500 index rating was down 9 points to 300.
Mar 25 CBOT Wheat closed at $5.92, down 12 3/4 cents,
May 25 CBOT Wheat closed at $6.06 1/2, down 11 1/4 cents,
Mar 25 KCBT Wheat closed at $6.13 3/4, down 13 1/2 cents,
May 25 KCBT Wheat closed at $6.26 1/4, down 13 cents,
Mar 25 MGEX Wheat closed at $6.33 1/2, down 7 1/2 cents,
May 25 MGEX Wheat closed at $6.48 1/4, down 7 1/2 cents.
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Source : Nasdaq.com
