Wheat is mixed, with KC the weakest and down 2 cents and MPLS the firmest. The wheat complex found strength midway through the Thursday session following China rumors and a marketing year high in export business. Chicago SRW contracts were up 1 to 4 ¾ cents. Open interest was up 3,267 contracts on Thursday, suggesting modest new buying. KC HRW futures were 1 ¼ to 2 ¼ cents higher at the close. OI rose 3,141 contracts. MPLS spring wheat was up 2 ¾ to 5 cents on the session.
There were wire reports on Thursday of China’s COFCO inquiring on US SRW wheat for import.
Export Sales data from Thursday showed a marketing year high of 846,770 MT of wheat sales in the week ending on 10/22. That was 70.03% above the same week last year. The Philippines was the top buyer of 2126,300 MR, with 154,000 MT sold to South Korea and 140,000 MT to Indonesia. Bookings for 2027/28 were tallied at 22,000 MT, all to Peru.
A South Korean mill importer purchased 50,000 MT of US wheat overnight. The FranceAgriMer estimate the country’s wheat crop at 62% planted as of 10/26, lagging the 67% pace from last year.
Dec 26 CBOT Wheat closed at $6.03 3/4, up 4 3/4 cents, currently down 1/2 cent
Mar 27 CBOT Wheat closed at $6.17 1/4, up 4 cents, currently down ¼ cent
Dec 26 KCBT Wheat closed at $6.45 1/4, up 2 1/4 cents, currently down 1 3/4 cents
Mar 27 KCBT Wheat closed at $6.54 3/4, up 1 1/2 cents, currently down 1 12 cents
Dec 26 MIAX Wheat closed at $6.25 1/2, up 4 3/4 cents, currently up 1/2 cent
Mar 27 MIAX Wheat closed at $6.42 1/4, up 5 cents, currently up 1 1/2 cents
On the date of publication, Austin Schroeder did not directly have a position 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.