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Barchart
Barchart
Austin Schroeder

Wheat Pares Back Losses into Wednesday’s Close

Chicago KC MPLS CBOT Wheat MIAX

The wheat complex posted losses across the three markets on Wednesday. Chicago SRW futures were down 6 ¾ to 11 ¼ cents across the board on the midweek session. KC HRW futures pulled off the early lows with contracts closing 1 to 3 cents on the day. MPLS spring wheat saw losses of 3 to 5 ¼ cents on Wednesday.

Crude oil was down $6.06 on the day following the US and Iran closing in on reaching a memorandum of understanding that would, among other things, allow for the safe passage through the Strait of Hormuz as well as a path to ending to conflict.

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