Wheat Mixed at Midday, as KC Tries a Rebound
Wheat markets showed mixed early trade on Wednesday. KC wheat led gains, up 5–6 cents, while CBOT was steady to slightly lower and MPLS saw marginal gains. Analysts expect 300,000–650,000 MT in weekly export sales. South Korea bought 60,000 MT. Key futures showed minimal movement across contracts.
Wheat is showing very marginally mixed trade early on Wednesday. The wheat complex is mixed across the three exchanges on Wedesday, led by the KC market, back up 5 to 6 cents. CBT futures are steady to fractionally lower. MPLS spring wheat is showing steady to fractionally higher trade.
Analysts are expecting to see between 300,000 and 650,000 MT of wheat sold in the week ending on July 31 in Thursday’s Export Sales report.
Another South Korean importer purchased 60,000 MT of wheat in a private deal overnight.
Sep 25 CBOT Wheat is at $5.07 1/2, down 3/4 cent,
Dec 25 CBOT Wheat is at $5.28 1/2, unch,
Sep 25 KCBT Wheat is at $5.10 1/4, up 5 3/4 cents,
Dec 25 KCBT Wheat is at $5.30 1/4, up 5 cents,
Sep 25 MGEX Wheat is at $5.70 3/4, up 1/2 cent,
Dec 25 MGEX Wheat is at $5.92 1/2, unch.
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Source : Nasdaq.com
