Wheat Closes Mixed on Wednesday

The wheat complex saw mixed action across the three markets on Wednesday. Chicago SRW futures were fractionally to 2 ½ cents higher on the day. KC HRW contracts were steady to down a penny on the session. MPLS spring wheat was mixed on the day, with contracts anywhere from a penny in the nearbys to up 3 ¼ cents in the deferreds.

After rains in portions of the Southern Plains over the weekend and early in the week, the 7-day QPF from NOAA looks drier for the next week, with some light totals in the eastern portions of the Plains.

Weekly Export Sales data will be out on Thursday morning, with the trade looking for a range of 350,000 to 650,000 MT of 2024/25 sales and 0 to 50,000 MT in 2025/26 sales.

Dec 24 CBOT Wheat closed at $5.78 1/2, up 2 1/2 cents,

Mar 25 CBOT Wheat closed at $5.98 1/4, up 2 cents,

Dec 24 KCBT Wheat closed at $5.85 1/2, down 1 cent,

Mar 25 KCBT Wheat closed at $6.00 1/4, down 1/2 cent,

Dec 24 MGEX Wheat closed at $6.15 1/2, down 1 cent,

Mar 25 MGEX Wheat closed at $6.37 1/2, down 1/2 cent,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.