Wheat is trading with Christmas Eve Gains in the winter wheat contracts so far. The wheat complex was mixed trade at the Tuesday close, with winter wheat contracts higher and spring wheat mixed. Chicago SRW futures were 1 to 2 cents higher on the day. Open interest showed slight short covering, down 1,606 contracts. KC HRW futures were up 6 to 7 cents in the nearbys. OI data suggested new buying, up 2,970 contracts on Tuesday. MPLS spring wheat saw fractionally mixed trade on Tuesday. The markets will close early today and remain closed for Christmas on Thursday with a hard open at 8:30 am CST on Friday.
Another update to the Export Sales report from Tuesday indicated 432,609 MT in wheat sales for the week of December 11. That was an improvement of 13.39% from the previous week.
CFTC data showed a total of 20,849 contracts added to the spec net short in Chicago futures and options as of December 16, taking the total net short to 66,918 contracts. In KC wheat, managed money added 8,702 contracts to their net short at 25,713 contracts as of last Tuesday.
The EU commission estimates the EU soft wheat export total from July 1 to December 21 at 10.8 MMT, shy of the 11 MMT from the same period last year.
Mar 26 CBOT Wheat closed at $5.17, up 1 1/2 cents, currently up 5 ¼ cents
May 26 CBOT Wheat closed at $5.27 1/4, up 1 cent, currently up 5 ¾ cents
Mar 26 KCBT Wheat closed at $5.28, up 6 3/4 cents, currently up 6 cents
May 26 KCBT Wheat closed at $5.40, up 6 cents, currently up 5 ¾ cents
Mar 26 MGEX Wheat closed at $5.80 1/4, up 1/4 cent, currently unch cents
May 26 MGEX Wheat closed at $5.90 1/4, down 1/4 cent, currently unch 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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