The wheat complex was mixed on Friday, with the winter wheat contracts closing lower. CBT soft red wheat futures were 7 to 8 cents lower trade to close out the week, as December was down 6 ¼ cents on the week. KC HRW futures posted 3 to 5 cents losses, with December down 5 ¼ cents since last Friday. MPLS spring wheat futures were steady to up a penny in the nearbys across most contracts on Friday, to close the week with a nickel gain.
Dryness is expected to persist across most of the Southern Plains in the next week, as well as most of SRW country.
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A South Korean mill importer purchased 50,000 MT of US wheat in a tender overnight.
French soft wheat planting is now 79% planted as of 11/3, a 11 point move on the week according to the FranceAgriMer. Durum was tallied at 23% planted. Wheat harvest in Argentina is estimated at 11.6% complete according to the Buenos Aires Gains exchange.
Dec 25 CBOT Wheat closed at $5.27 3/4, down 7 3/4 cents,
Mar 26 CBOT Wheat closed at $5.42 1/4, down 7 1/2 cents,
Dec 25 KCBT Wheat closed at $5.19 1/4, down 3 cents,
Mar 26 KCBT Wheat closed at $5.32, down 5 cents,
Dec 25 MGEX Wheat closed at $5.58, up 1 cent,
Mar 26 MGEX Wheat closed at $5.73, up 3/4 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.
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