The wheat market is posting continued weak point on Friday. Chicago SRW futures are slipping again 8 to 9 cents at noon. Kansas Metropolis HRW contracts are main the cost decrease, with contracts down 17 to 18 cents. MPLS spring wheat is down 7 to 10 cents throughout the entrance months.
Rains forecast for the subsequent week are seen totaling 1 to three inches in a lot of SRW nation. HRW areas are comparatively dry, with exceptions to jap parts of the Southern Plains.Â
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USDA’s Export Gross sales knowledge has wheat commitments at 21.092 MMT as of three/20, which is 12% forward of the identical week final 12 months. That can also be simply 93% of the USDA projection and lagging behind the 101% common tempo.
NASS will report the March 1 Grain Shares knowledge subsequent Monday, with a Bloomberg survey of merchants on the lookout for 1.221 bbu of wheat available on common. The vary is from 1.169 to 1.26 bbu for the March 1 whole.Â
Could 25 CBOT Wheat  is at $5.23 1/2, down 8 1/2 cents,
Jul 25 CBOT Wheat  is at $5.38 1/2, down 8 3/4 cents,
Could 25 KCBT Wheat  is at $5.48 3/4, down 17 1/2 cents,
Jul 25 KCBT Wheat  is at $5.62 1/4, down 17 1/2 cents,
Could 25 MGEX Wheat  is at $5.79 1/4, down 9 1/4 cents,
Jul 25 MGEX Wheat  is at $5.95 1/2, down 7 3/4 cents,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. For extra info please view the Barchart Disclosure Coverage
right here.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
