The wheat complex saw some pressure on Thursday. Chicago SRW saw losses of 1 ½ to 5 ¼ cents at the close. KC HRW futures saw losses of 4 to 6 ½ cents at the final bell on Thursday. MPLS spring wheat was down 8 to 9 cents on the session.
USDA’s Export Sales report from this morning showed 267,553 MT of wheat sales in the week of 9/17, with shy of traders looking for between 350,000 MT and 600,000 MT. That was the 4th lowest total for the marketing year and 50.44% below the same week last year. Mexico was the lead buyer of 113,400 MT, with 87,600 MT to Japan and 60,000 MT sold to Vietnam.
The next 7 days shows 2 to 4 inches of rain expected from the Panhandle of TX to NE, according to NOAA’s 7-day QPF. That adds much needed soil moisture to some dry areas but does slow planting progress.
Dec 26 CBOT Wheat closed at $7.07, down 1 1/2 cents,
Mar 27 CBOT Wheat closed at $7.21 1/2, down 2 3/4 cents,
Dec 26 KCBT Wheat closed at $7.67, down 4 3/4 cents,
Mar 27 KCBT Wheat closed at $7.79 1/2, down 6 cents,
Dec 26 MIAX Wheat closed at $7.20 1/4, down 8 1/2 cents,
Mar 27 MIAX Wheat closed at $7.41 1/4, down 8 3/4 cents,
