Wheat is trading with contracts near unchanged. The wheat complex saw weakness across most contracts on Wednesday. Chicago SRW futures were steady to 3 cents in the red on the day. Open interest rose 2,020 contracts on Wednesday. KC HRW futures were down 2 to 4 cents on Wednesday. OI was down 1,207 contracts. MPLS spring wheat was 4 to 5 cents lower at the close. There were another 3 deliveries issued against December KC wheat overnight.
Export Sales data for the week ending on October 31 will be out this morning, with traders looking for between 250,000 and 650,000 MT in wheat bookings.
A South Korean importer purchased a total of 30,300 MT of wheat in a tender overnight. Algeria purchased wheat in their tender that closed on Wednesday, with reports of purchases between 810,000 and 900,000 MT.
Canadian wheat production is estimated at 38.49 MMT according to a Reuters survey of analysts, ahead of the Statistics Canada report on Thursday.
Dec 25 CBOT Wheat closed at $5.37 3/4, unch, currently down 1/4 cent
Mar 26 CBOT Wheat closed at $5.38 1/4, down 2 3/4 cents, currently down 1/4 cent
Dec 25 KCBT Wheat closed at $5.21, down 2 1/2 cents, currently down 1 cent
Mar 26 KCBT Wheat closed at $5.29 1/2, down 3 1/2 cents, currently up 1/4 cent
Dec 25 MGEX Wheat closed at $5.82 1/2, down 11 1/4 cents, currently unch
Mar 26 MGEX Wheat closed at $5.76 1/4, down 4 1/2 cents, currently up 1 1/4 cents
