Wheat Posts Modest Weakness on Friday

The wheat complex posted mostly weaker trade on Friday, though futures held on to the weekly gains. Chicago SRW futures were down 1 to 3 cents weaker on to close out the week, as March was 9 ¼ cents higher this week. KC HRW futures were steady to fractionally lower in the front months, with nearby March up 18 ¼ cents over last Friday. MPLS spring wheat saw fractional to penny losses on Friday, with the front month March contract up 1 ¼ cents on the week.

The forecast for the next 7 days showed light precip for parts of the Plains, with some SRW country looking at heavier totals.

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Weaker trade may have been associated with a meeting this Sunday between President Trump and Ukraine’s president Zelensky to discuss peace talks.

Mar 26 CBOT Wheat  closed at $5.19, down 2 3/4 cents,

May 26 CBOT Wheat  closed at $5.30 3/4, down 1 1/2 cents,

Mar 26 KCBT Wheat  closed at $5.33 1/2, down 1/2 cent,

May 26 KCBT Wheat  closed at $5.46, unch,

Mar 26 MGEX Wheat  closed at $5.79 1/4, down 1 cent,

May 26 MGEX Wheat  closed at $5.90 1/2, down 3/4 cent,