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The wheat market is trading close to unchanged on Tuesday’s midday. Chicago SRW futures are steady at midday with fractional gains in the front months. KC HRW contracts are also facing steady trade at midday, with contracts firm to slightly higher. MPLS spring wheat futures are also fractionally higher.
Export Inspections data from Monday morning showed a total of 337,685 MT (12.4 mbu) of wheat shipped in the week that ended on December 26. That was down 16.21% from the previous week but 22.16% from the same week last year. Mexico was the largest destination of 68,203 MT, with 66,149 MT to Thailand. Marketing year shipments were tallied at 12.283 MMT (451.33 mbu) as of that date, which is 27.1% above the same period last year.
Commitment of Traders data indicated a total of 7,608 contracts added to the net short position in CBT wheat futures and options to a net short of 95,009 contracts. In KC wheat, they increased 1,869 contracts to their net short at 34,936 contracts.
Mar 25 CBOT Wheat is at $5.48 1/4, unch,
May 25 CBOT Wheat is at $5.59, unch,
Mar 25 KCBT Wheat is at $5.55 3/4, unch,
May 25 KCBT Wheat is at $5.64 1/2, unch,
Mar 25 MGEX Wheat is at $5.93 3/4, unch,
May 25 MGEX Wheat is at $6.01 3/4, up 1/4 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. For more information please view the Barchart Disclosure Policy here.