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Barchart
Barchart
Austin Schroeder

Wheat Posting Mixed Midday Trade, After USDA Adds to World Production

USDA United States Chicago SRW KC MPLS CBOT KCBT MGEX

The wheat complex is mixed as the market chews on a USDA report with little substance, on the US side. Chicago SRW futures are firm to 2 cents lower. KC HRW futures are showing fractional gains in the front months, excluding thin December. MPLS spring wheat is steady to 2 cents higher.

USDA published their monthly WASDE report this morning, showing very few changes to the US balance sheet. Stocks were left unchanged at 901 million bushels, as the World Ag Outlook Board left both the supply and demand numbers alone. There was some adjusting amongst the classes, with HRS stocks up 5 mbu and white wheat down 5 mbu. 

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