Wheat Futures Give Back Double Digits

The wheat complex is in the red at midday. CBT SRW futures are down 2.78% to 2.99% at midday. KC wheat is trading 2.15% to 2.36% in the red. MPLS HRS futures are down 2.4% to 2.57% so far. USDA’s Export Sales report showed 329,647 MT of wheat booked on the week ending 1/14. That was on the low end of expectations and down 52% yr/yr. The week’s shipments were 264,007 MT which was a 6 week low. New crop wheat sales are estimated to be below 50,000 MT for the week ending 1/14. Jordan issued an international wheat tender for 120,000 MT. Tunisia is also tendering for 184,000 MT of optional origin wheat.  

Mar 21 CBOT Wheat is at $6.41 1/4, down 19 1/2 cents,
Mar 21 KCBT Wheat is at $6.21, down 14 3/4 cents,
Mar 21 MGEX Wheat is at $6.20, down 15 1/4 cents,

--- provided by Brugler Marketing & Management




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