Wheat Closes Mixed on Friday

Wheat faced some pressure on Friday, as the winter wheats were the weakest. Chicago SRW futures were down ½ to 5 ½ cents on the day, with March down 16 ¾ cents this week and 42 ¼ cents on the month. KC HRW contracts were 2 3/4 to 5 ½ cents lower on the session with March losing 24 ¾ cents on the week and 42 ¼ cents this month. MPLS spring wheat was the strongest of the three, with Dec up 8 cents and the others withing ½ cents of unchanged. March MPLS was down 9 ¾ cents this week and down 36 ½ cents this month.

The weekly Export Sales report showed 366,804 MT in wheat sales for the week of 11/21, in the middle of the 200,000 and 600,000 MT estimates. That was a 9-week low and down 33.26% from the week prior. The largest buyer was unknown destinations at 95,000 MT, with 59,100 MT sold to Taiwan.

The FranceAgriMer shows the country’s soft wheat crop at 93% planted, above the 90% from the week prior, with 87% listed as good/excellent, down 1% from last week. The European Commission showed the EU 2024/25 wheat crop at 112.3 MMT, down 0.3 MMT from the previous number.  

Russia has set an export quota on wheat for 2/15 through 6/30 next spring at 11 MMT. That is down from the 29 MMT quota in the same period for 2024, though that included corn and barley (which combined to total 12.8 MMT in full year shipments for 2023/24 according to USDA data).

Dec 24 CBOT Wheat  closed at $5.32 1/4, down 5 1/2 cents,

Mar 25 CBOT Wheat  closed at $5.48, down 1/2 cent,

Dec 24 KCBT Wheat  closed at $5.20 3/4, down 5 1/2 cents,

Mar 25 KCBT Wheat  closed at $5.40 3/4, down 3 3/4 cents,

Dec 24 MGEX Wheat  closed at $5.72 1/2, up 8 cents,

Mar 25 MGEX Wheat  closed at $5.91 3/4, up 1/2 cent,

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

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