Wheat is showing modest losses in Monday morning trade. The wheat complex saw some buying off the early lows on Friday but still faced weakness at the final bell. Chicago SRW was down 1 to 3 ¾ cents on the day, with December falling back 11 cents on the week. Open interest was up 3,409 contracts, suggesting some new short interest. KC HRW futures were 1 to 5 ¾ cents lower at the close, with December dropping 21 ¾ cents since last Friday. OI was down 4,133 contracts. MPLS spring wheat was 6 ¾ to 8 ¾ cents in the red, with December down 27 ¾ cents last week.
Ukraine’s ag minister sees no signs for a ceasefire on the Black Sea and doesn’t see one coming in the future months.
