Wheat is heading into the New Years Eve session with losses across the three markets. The wheat complex closed with losses across all three exchanges on Tuesday. Chicago SRW futures were 2 to 3 cents lower at the close. Open interest was up 6,890 contracts on Tuesday, KC HRW futures were down 5 to 6 cents on Tuesday. Preliminary open interest was down 8181 contracts on Tuesday. MPLS spring wheat was fractionally lower on the day. The market will be closed on Thursday for New Years Day, with a hard open at 8:30 am CST on Friday.
Export Sales data will be out this morning, with analysts looking for between 50,000 MT in net reductions and sales of 400,000 MT in the week of 12/18.
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Argentina’s wheat crop is estimated at 27.8 MMT according to the Buenos Aires Grains Exchange, a 0.7 MMT increase from the prior estimate.
Mar 26 CBOT Wheat closed at $5.10 3/4, down 2 1/4 cents, currently down 2 1/4 cents
May 26 CBOT Wheat closed at $5.22, down 2 3/4 cents, currently down 2 1/2 cents
Mar 26 KCBT Wheat closed at $5.22, down 5 1/4 cents, currently down 4 3/4 cents
May 26 KCBT Wheat closed at $5.35, down 5 1/4 cents, currently down 4 3/4 cents
Mar 26 MIAX Wheat closed at $5.79 1/2, down 3/4 cent, currently down 1/2 cent
May 26 MIAX Wheat closed at $5.89, down 3/4 cent, currently down 1 3/4 cents
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