The wheat complex is trading with losses across the three exchanges on Friday. Chicago SRW futures are down 4 to 5 cents in the nearbys so far on the day. KC HRW futures are 6 to 7 cents lower in the front months at midday. MPLS spring wheat is 4 to 5 cents in the red on the session.
President Trump is planning to stick with the 25% tariff on Canada and Mexico, though the date has been pushed back to March 1 according to reports this morning. Details are being reviewed, with some exemptions in play.
Export Sales data was released on Thursday morning, with USDA showing 456,086 MT during the week of 1/23. That brought the marketing year sales total to 18.328 MMT, which is 79% of the USDA export figure for the marketing year, lagging the 89% average pace.
Mar 25 CBOT Wheat is at $5.61 3/4, down 4 3/4 cents,
May 25 CBOT Wheat is at $5.74 1/2, down 4 1/2 cents,
Mar 25 KCBT Wheat is at $5.81 1/2, down 6 3/4 cents,
May 25 KCBT Wheat is at $5.91 1/2, down 6 3/4 cents,
Mar 25 MGEX Wheat is at $6.15 1/4, down 5 cents,
May 25 MGEX Wheat is at $6.23 1/2, down 4 1/2 cents,
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.
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