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Wheat trades mixed as Chicago SRW front months slip
Chicago SRW front months fell 1.0 to 10.3 cents, while spring wheat conditions rose 1.0% to 52.0% good to excellent, according to NASS crop progress data.
Wheat prices were mixed in early trading on Wednesday, with CBT holding up while hard wheats moved lower, according to a market update from Yahoo Finance.
In the Chicago SRW contract complex, front months were down 1.0 to 10.3 cents, while deferred contracts edged up by about 0.1 to 0.2 cents. KC HRW futures underperformed, falling 5.3 to 15.0 cents at the close. The update also said open interest declined by 7,720 contracts overall, mainly due to liquidation in September (-14,165).
Among U.S. wheat regions, MPLS spring wheat was described as firmer, with most months up by roughly 0.1 to 1.3 cents. This week’s NASS Crop Progress indicated spring wheat conditions improved by 1.0 percentage point to 52.0% good to excellent, with declines noted in Montana (-3) and Washington (-5), and improvements in Idaho (+8), North Dakota (+5), and Minnesota (+4).
The European Commission data cited in the update showed EU soft wheat exports since July 1 totaled 1.48 million metric tons through 8/16, lagging the 2.9 million metric tons reported in the same period last year.
Latest closeWheat $689.00 ▲5.5%