Wheat Futures Offset Part of Wednesday Decline Overnight
Related Stocks
 ZWK24 - Wheat
SymLastChgPct
ZWK24560-2s+12-6+2.33%
KEK24585-2s+7-0+1.21%
MWK24645-0s-6-0-0.92%

Wheat futures are up 3 to 5 cents this morning, led by Minneapolis spring wheat. Wheat markets were just plain lower on Wednesday. CBT SRW futures pulled back by 13 to 15 1/2 cents. Preliminary open interest showed a surge of new selling interest, rising 8,990 contracts. KC HRW futures ended the session with 16 to 18 cent losses. Minneapolis wheat closed the midweek session 7 1/2 to 5 3/4 cents lower. 

FranceAgriMer forecasts 21/22 wheat carryout at 2.36 MMT, which was down 500k MT from their Sep estimate. FranceAgriMer had carry-in at 2.34 MMT, or a 6-yr low. 

Pakistan is tendering for 90k MT of wheat. Jordan issued an international wheat tender for 120k MT. Ethiopia is also in the market for 300k MT. Egypt’s GASC passed on their tender due to high prices. They should be more interested now. 

Dec 21 CBOT Wheat  closed at $7.18 3/4, down 15 1/4 cents, and up 3 ½ this morning

Cash SRW Wheat  was $6.67 on Wednesday, down 14 cents,

Dec 21 KCBT Wheat  closed at $7.21 3/4, down 18 cents, and up 4 ¾ this morning

Cash HRW Wheat  was $6.96 on Wednesday, down 18 cents,

Dec 21 MGEX Wheat  closed at $9.48 3/4, down 6 1/4 cents, and up 5 ¼ this morning




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