Wheat Facing Losses at Midday

The wheat market is posting weakness across the three exchanges so far on Wednesday. Wheat posted mixed action on Tuesday, with KC continuing to lead the way higher. Chicago SRW futures are slipping lower down 3 to 4 cents so far on the day. Kansas City HRW contracts are leading the charge lower, down 10 to 13 cents on Wednesday. MPLS spring wheat is facing losses of 3 to 4 cents at midday. 

USDA Export Sales data will be released on Thursday, with last week total the second largest wheat sales for the MY

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Turkey is allowing for wheat imports duty free to be milled for flour exports. 

May 25 CBOT Wheat  is at $5.62, down 3 cents,

Jul 25 CBOT Wheat  is at $5.78 3/4, down 3 1/4 cents,

May 25 KCBT Wheat  is at $5.94, down 12 1/4 cents,

Jul 25 KCBT Wheat  is at $6.08 1/2, down 10 1/2 cents,

May 25 MGEX Wheat  is at $6.10 3/4, down 3 1/4 cents,

Jul 25 MGEX Wheat  is at $6.26 1/2, down 3 3/4 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. For more information please view the Barchart Disclosure Policy

here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.