The wheat market posted double digit losses across most contracts in the three exchanges on Friday. Chicago SRW futures closed with contracts down 11 1/4 to 16 1/2 cents on the day. March fell 17 ¼ cents this week. KC HRW contracts closed with 12 ½ to 13 1/2 cent losses on the session. March KC wheat was down 15 ½ cents on the week. MPLS spring wheat futures posted 10 to 11 3/4 cent losses on the day. March fell 17 ½ cents since last Friday.
The weekly Export Sales report was published this morning, with USDA coming in at a MY low of 140,591 MT in 2024/25 wheat sales during the Christmas week of 12/26. That was below estimates of between 200,000 and 500,000 MT. South Korea was the largest buyer of 35,900 MT, as Thailand bought 29,700 MT.
Taiwan is tendering for a total of 114,650 MT of wheat from the US, with the offers due next Thursday.
Mar 25 CBOT Wheat closed at $5.29 1/4, down 16 1/2 cents,
May 25 CBOT Wheat closed at $5.41, down 16 1/2 cents,
Mar 25 KCBT Wheat closed at $5.39, down 12 3/4 cents,
May 25 KCBT Wheat closed at $5.47 1/4, down 13 1/2 cents,
Mar 25 MGEX Wheat closed at $5.77 3/4, down 11 3/4 cents,
May 25 MGEX Wheat closed at $5.86 1/2, down 11 1/2 cents,
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