Insights Daily World is your one-stop destination for discovering unbeatable discounts, trending deals, and the latest offers across various products. Stay informed with the newest updates, breaking news, and insightful deals, all designed to help you save and stay ahead
The wheat market is showing a stronger start to Monday trade, with contracts up across the three markets. Wheat futures were mixed across the three exchanges on Friday as USDA reports were less friendly for the small grain. Chicago SRW futures were down ½ to 3 ¼ cents in the nearby contracts, with deferreds up ¼ to 5 cents. KC HRW posted Friday gains of 1 ½ to 5 cents at the close, with March up 12 ¾ cents since last Friday. MPLS spring wheat futures were steady to 2 cents in the green on the session, with March up 6 ½ cents last week.
The weekly Export Sales tallied another MY low in sales at just 111,309 MT, below the 150,000 to 500,000 MT range of estimates for the week ending on January 2. South Korea was the buyer of 68,100 MT, with 35,300 MT sold to the Philippines. Net reductions of 89,000 MT were reported to unknown, with most being switched to a destination.
December 1 Grain Stocks data came in pretty close to the trade estimates, with 1.569 bbu in wheat stocks. That was up 148 mbu from last year and 4 mbu larger than the average trade guess. The US WASDE balance sheet saw few changes, with imports up 5 mbu, as ending stocks were up by 3 mbu to 798 mbu. World wheat ending stocks were raised by 0.94 MMT to 258.82 MMT.
The Winter Wheat Seedings report showed all winter wheat acreage at 34.115 million acres, up 725,000 acres from last year. HRW was tallied at 24 million, up 213,000 acres from 2024, with SRW at 6.44 million acres (+378,000 acres) and white at 3.64 million acres (+99,000 acres).
Mar 25 CBOT Wheat closed at $5.30 3/4, down 3 1/4 cents, currently up 5 1/4 cents
May 25 CBOT Wheat closed at $5.43 1/2, down 2 1/2 cents, currently up 4 1/4 cents
Mar 25 KCBT Wheat closed at $5.51 3/4, up 1 1/2 cents, currently up 2 3/4 cents
May 25 KCBT Wheat closed at $5.60 3/4, up 2 1/4 cents, currently up 3 cents
Mar 25 MGEX Wheat closed at $5.84 1/4, up 3/4 cent, currently up 3 cents
May 25 MGEX Wheat closed at $5.92 1/2, up 3/4 cent, currently up 2 3/4 cents
On the date of publication,
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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Source link
