Wheat is showing 2 to 5 cent losses early on Thursday. The wheat complex faced weakness to close out the Wednesday trade. Chicago SRW posted losses of 2 ¾ to 9 ¼ cents on the session. Open interest was up 1,023 contracts on Wednesday. KC HRW futures were down 4 ¾ to 9 ¾ cents across the board on the day. MPLS spring wheat was 2 ½ to 7 ¾ cents in the red at the midweek close.
Traders continue to monitor the Ukraine/Russia conflict as talks with Ukraine’s President Zelenskyy stated the country was ready for a ceasefire on energy targets as long as Russia made a similar move and called for trilateral talks with Trump and Putin.
