Wheat Closes Mixed, as Winter Wheats Fade

The wheat market experienced mixed results as winter wheats declined and spring wheat rose. Chicago SRW contracts fell 2 to 9 ¼ cents, while KC HRW futures dropped 1 ¾ to 11 cents. MPLS spring wheat was the standout performer, gaining 4 ¼ to 12 cents. Overnight, Russia announced it would suspend the export duty on grain through the end of the year.

Traders will assess Export Sales data released on Thursday, anticipating 350,000 to 600,000 metric tons of wheat sales in the week ending August 27. CBOT Wheat closed at $7.54 3/4 on Sep 26 and $7.74 3/4 on Dec 26, both down 9 ¼ and 8 ½ cents respectively. KCBT Wheat closed at $8.14 3/4 on Sep 26 and $8.34 1/4 on Dec 26, both falling 11 cents.

Conversely, MIAX Wheat ended at $7.60 3/4 on Sep 26 and $7.82 on Dec 26, both up 4 ¼ and 5 ¼ cents. Austin Schroeder had no positions in any of the mentioned securities.