Chicago wheat futures finished the day UNHC to 2 cents stronger across the front months. KC HRW futures were 2 to 3 ¼ cents weaker at the close. The March HRW/SRW spread now has Chicago futures at a 9 ¼ cent premium for the settle. The July contract spread was 14 cents. Minneapolis spring wheat futures were 5 to 8 cents lower for the close. Front month Oats Futures Prices were down by 1.7% on Thursday.
The NOAA QPF has as much as 3 to 4” for the coming week in the ECB. The Southern plains will miss out with no more than ¼”.
The weekly Export Sales report is expected to show between 300k MT and 550k MT of wheat was sold during the week that ended 2/15.
The weekly Crop Progress report from TX showed winter wheat was 15% headed as of 2/18, compared to 11% on average. Conditions were 40% G/E for a Brugler500 score of 319. KS, OK, and a handful of other states will issue a Feb summary update for the week of 2/25.
Japan issued a regular tender seeking 116k MT of wheat from U.S., Canada, and Australia. Results are expected today.
Mar 24 CBOT Wheat closed at $5.83 1/4, unch,
May 24 CBOT Wheat closed at $5.79 1/4, up 1 1/4 cents,
Mar 24 KCBT Wheat closed at $5.74, down 3 1/4 cents,
Mar 24 MGEX Wheat closed at $6.51 1/4, down 8 cents,
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