The wheat complex was lower across the three exchanges on Wednesday. Chicago SRW futures were down 5 to 6 cents at the close. KC HRW futures were 5 to 7 cents lower on the session. MPLS spring wheat was down 2 to 4 cents in the red on the midweek session.
Export Sales data will be released on Thursday morning, as traders are expecting to see net wheat sales totaling 200,000 to 500,000 MT for the week ending on February 26. New crop business is estimated in a range of 0-100,000 MT.
Statistics Canada planting intentions data will be released on Thursday morning, with traders surveyed by Reuters looking for all wheat acres to be tallied at 26.4 million acres, down from 26.9 million last year. Spring wheat is estimated at 18.8 million acres, steady with 2025 if realized.
Mar 26 CBOT Wheat closed at $5.66 3/4, down 5 1/2 cents,
May 26 CBOT Wheat closed at $5.68 1/4, down 5 3/4 cents,
Mar 26 KCBT Wheat closed at $5.65 1/4, down 5 1/4 cents,
May 26 KCBT Wheat closed at $5.72 1/2, down 5 3/4 cents,
Mar 26 MIAX Wheat closed at $5.99 3/4, down 2 1/2 cents,
May 26 MIAX Wheat closed at $6.09 1/4, down 4 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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