Wheat Mixed at Midday
Wheat is showing mixed action so far on Tuesday at midday, with the winter wheats leading the bull’s charge. Chicago SRW futures are up 1 to 2 cents at midday. KC HRW are trading with 2 to 3 gains on Tuesday. MPLS spring wheat futures are steady to fractionally lower so far on the day.
Managed money spec funds were tallied as adding 1,875 contracts to their net short position in Chicago wheat as of January 7 to a net short of 88,637 contracts. In KC wheat they cut back 2,003 contracts from their net short at 31,858 contracts.
Japan has issued a tender for 132,888 MT of wheat for import from the US, Canada, and Australia, with 48,308 MT US specific.
Mar 25 CBOT Wheat is at $5.47, up 2 cents,
May 25 CBOT Wheat is at $5.58 1/2, up 1 3/4 cents,
Mar 25 KCBT Wheat is at $5.63 1/4, up 2 1/4 cents,
May 25 KCBT Wheat is at $5.72 1/2, up 2 cents,
Mar 25 MGEX Wheat is at $5.93 1/4, down 1/4 cent,
May 25 MGEX Wheat is at $6.01 1/4, unch,
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.