Wheat Market Mixed at Midday
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The winter/spring wheat mixed movement continues through Friday’s midday, as spring wheat continues higher with weakness in the winter wheat markets. CBT SRW futures are giving back another 4 3/4 to 5 1/2 cents so far. KC HRW prices are 2 to 2 1/2 cents in the red. Spring wheat futures are up by as much as 4 1/2 cents at midday through the front months. Oats futures are also adding to their historic rally, up another 3 3/4 to 9 cents/bu to $6.26 in the Dec contract.

USDA’s Export Sales report showed 333,218 MT of wheat was sold during the week that ended 9/30. That was up 14% on the week, but down 38% yr/yr and within the expected range. Mexico and South Korea were the top buyers for the week. HRS made up the largest portion of the week’s sales, with 107k MT. USDA reported 543,444 MT were shipped during the week, which was 47% higher wk/wk but 27% below the same week last year. 

Traders reported their domestic wheat carryout estimates ahead of USDA’s October WASDE between 490 and 625 mbu. The average of survey responses was to see 581.5 mbu reported on Tuesday. 

Dec 21 CBOT Wheat  is at $7.36 3/4, down 4 1/2 cents,

Cash SRW Wheat  is at $6.84 1/2, down 4 1/2 cents,

Dec 21 KCBT Wheat  is at $7.39 3/4, down 1 1/2 cents,

Cash HRW Wheat  is at $7.14 3/5, down 1 3/8 cents,

Dec 21 MGEX Wheat  is at $9.45 1/4, up 3 cents,




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