Wheat Sticking Close to Unchanged on Monday AM Trade

Wheat is showing slight fractional to penny losses on the winter wheat contracts with spring wheat steady. The wheat complex was mostly higher trade at Friday’s close, as the winter wheat contracts try to form some sort of bottom. CBT soft red wheat futures were 1 to 2 cents higher, as December was 5 ¼ cents in the green last week. Preliminary Open interest on Friday was down 3,842 contracts.  KC HRW futures were up 2 to 3 cents across the front months, with the lead December contracts up 8 ½ cents over last Friday. OI was down 2,910 contracts on Friday. MPLS spring wheat futures posted steady to penny lower trade, as December was down 3 ¼ cents last week.

The FranceAgriMer estimates the country’s soft wheat crop at 27% planted as of 10/13, above the previous week. The Buenos Aires Grain Exchange estimates the Argentina wheat crop at 90% gd/ex, though noted a caution over colder weather next week. Their estimate for the crop stood at 22 MMT. Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

Algeria purchased a total of 400,000 MT of wheat in their recent tender. Ukraine wheat exports  have totaled 5.6 MMT since July 1, down 21% from a year ago.

Dec 25 CBOT Wheat closed at $5.03 3/4, up 1 1/4 cents, currently down 1 cent

Mar 26 CBOT Wheat closed at $5.20 1/4, up 1 1/2 cents, currently down 3/4 cent

Dec 25 KCBT Wheat closed at $4.91 1/2, up 2 3/4 cents, currently down 3/4 cent

Mar 26 KCBT Wheat closed at $5.11, up 2 cents, currently down 1/2 cent

Dec 25 MGEX Wheat closed at $5.49 1/2, down 1 cent, currently unch

Mar 26 MGEX Wheat closed at $5.69 1/2, down 1/2 cent, currently unch 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.

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