Wheat Sees Modestly Mixed Trade on Wednesday

Wheat posted mixed trade on Wednesday, with most contracts hard red contracts lower and soft red heading higher. Chicago SRW wheat was mostly 3 to 4 higher, vs. losses on Tuesday. KC HRW futures were fractionally to a penny lower across the front months. MPLS spring wheat futures were down 1 to 2 cents.

USDA will release their Export Sales report on Thursday, with traders looking for 2025/26 wheat bookings in a range of 300,000 to 700,000 MT.

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Wire reports from Europe indicate that OAIC in Algeria purchased up to 1 MMT of milling wheat on Tuesday. Exact quantities and origins are not announced, but shipment is for September and October. While France has historically been a supplier,  Bulgaria and the Black Sea have been capturing much of the recent business. A Taiwan wheat importer purchased a total of 89,650 MT of wheat from the US in their tender overnight. FranceAgriMer estimates soft wheat ending stocks for the French wheat crop at 3.87 MMT, which would be above the 2.33 MMT from last year.

Sep 25 CBOT Wheat  closed at $5.41 1/4, up 3 1/4 cents,

Dec 25 CBOT Wheat  closed at $5.61 3/4, up 3 cents,

Sep 25 KCBT Wheat  closed at $5.22 3/4, down 1 cent,

Dec 25 KCBT Wheat  closed at $5.45 1/4, down 3/4 cent,

Sep 25 MGEX Wheat  closed at $6.00 1/2, down 1 3/4 cents,

Dec 25 MGEX Wheat  closed at $6.20, down 1 1/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com