Wheat Head Lower to Kick Off the Year
Wheat markets saw losses on Thursday, with Chicago SRW futures down 3½ to 5¾ cents, and KC HRW contracts falling 5 to 7½ cents. MPLS spring wheat also posted losses. A stronger US dollar and precipitation in key growing areas capped the market. The weekly Export Sales report is expected to show 200,000 to 500,000 MT in wheat sales.
The wheat market posted losses on Thursday to close out the Thursday session. Chicago SRW futures were down 3 ½ to 5 ¾ cents across board on the day. KC HRW contracts are down 5 to 7 ½ cents on the Thursday session. MPLS spring wheat futures closed the day with 3 ½ to 6 ¼ cent losses on the day. A sharply stronger US dollar index weighed on the market.
Precipitation south of the I-80 corridor and mostly east of the Missouri river, as well as creeping into the eastern 2/3 of KS is putting a cap on the market.
The weekly Export Sales report will be published on Friday morning, as the trade is estimating between 200,000 and 500,000 MT in 2024/25 wheat sales during the Christmas week of 12/26. Sales for 2025/26 are expected to total 0 to 75,000 MT
Mar 25 CBOT Wheat closed at $5.45 3/4, down 5 3/4 cents,
May 25 CBOT Wheat closed at $5.57 1/2, down 5 cents,
Mar 25 KCBT Wheat closed at $5.51 3/4, down 7 1/2 cents,
May 25 KCBT Wheat closed at $5.60 3/4, down 7 cents,
Mar 25 MGEX Wheat closed at $5.89 1/2, down 6 1/4 cents,
May 25 MGEX Wheat closed at $5.98, down 5 1/2 cents,
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