Wheat Popping on Friday Morning | U.S. Finance Information
Wheat bulls are pushing back on Friday morning, with contracts greater throughout the three markets. The wheat market was in free-fall on Thursday, with losses throughout the three exchanges. Chicago SRW futures had been 17 to twenty cents decrease on the close. At this time is first discover day for March futures, with 466 deliveries issued in a single day. KC HRW futures posted 13 to 14 cent losses on Thursday. There have been 314 deliveries issued in opposition to March KC wheat on FND. MPLS spring wheat was additionally below strain, with losses of 12 to 13 cents.
President Trump’s 25% tariffs on Mexico and Canada are nonetheless set for a March 4 begin date after some back and forth this week.
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Export Gross sales knowledge for the week that ended on February 20 confirmed simply 269,008 MT in wheat gross sales reported for 2024/25. That was a 5-week low. Complete commitments at the moment are at 20.144 MMT, which is 87% of USDA’s export forecast and lagging the 95% average gross sales tempo. New crop bookings had been at simply 5,000 MT on the low facet of estimates.
FranceAgriMer estimates the French delicate wheat crop at 73% gd/ex, which is down from 74% final week. The durum wheat crop was additionally back 1% to 82% gd/ex.
Mar 25 CBOT Wheat closed at $5.46 3/4, down 19 1/4 cents, presently up 3 3/4 cents
Might 25 CBOT Wheat closed at $5.62 1/2, down 17 1/4 cents, presently up 6 3/4 cents
Mar 25 KCBT Wheat closed at $5.71 1/4, down 13 3/4 cents, presently up 3/4 cent
Might 25 KCBT Wheat closed at $5.85 1/4, down 13 1/4 cents, presently up 4 1/2 cents
Mar 25 MGEX Wheat closed at $5.87, down 12 1/2 cents, presently up 2 cents
Might 25 MGEX Wheat closed at $6.04 3/4, down 13 cents, presently up 2 1/2 cents
On the date of publication,
Austin Schroeder
didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. For more info please view the Barchart Disclosure Coverage
right here.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
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