Wheat is facing pressure on Thursday morning following Putin comments of Pease overnight,, with contracts down 24 to 32 cents. The wheat complex closed the midweek session with winter wheats fading lower and spring wheat closing higher. Chicago SRW contracts were down 2 to 9 ¼ cents on Wednesday. Open interest was up 7,089 contracts. There were another 19 deliveries overnight against Sep CBT wheat. KC HRW futures were down 1 ¾ to 11 cents in most contracts at the close. Open interest was up 2,994 contracts. MPLS spring wheat was the firmest of the three exchanges, up 4 ¼ to 12 cents.
Early this morning Russia’s President Putin stated there was a chance of the peace deal with Ukraine.
Export Sales data will be released on Thursday morning, with traders looking for between 350,000 and 600,000 MT of wheat sales in the week ending on August 27.
Saudi Arabia issued a tender for 535,000 MT of wheat overnight, with a deadline for Friday.
Sep 26 CBOT Wheat closed at $7.54 3/4, down 9 1/4 cents, currently unch
Dec 26 CBOT Wheat closed at $7.74, down 8 1/2 cents, currently down 32 cents
Sep 26 KCBT Wheat closed at $8.14 3/4, down 11 cents, currently down 11 3/4 cents
Dec 26 KCBT Wheat closed at $8.34 1/4, down 11 cents, currently down 27 1/4 cents
Sep 26 MIAX Wheat closed at $7.60 3/4, up 4 1/4 cents, currently down 4 3/4 cents
Dec 26 MIAX Wheat closed at $7.82, up 5 1/4 cents, currently down 24 1/4 cents
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.