The US wheat market was divided in two at midweek. In Chicago, SWR wheat was down 3.25 US cents for March and closed at 506.25 US cents/bushel. May also lost 2.25 US cents to 517.25 US cents/bushel. Kansas City, on the other hand, was friendly: HRW wheat rose by 2.75 US cents in both March and May, closing at 507.75 and 520.25 US cents/bushel respectively. In Minneapolis, spring wheat futures fell by 3 US cents.
One cancellation in particular caused uncertainty: China withdrew a previously announced order for 132,000 tons of white US wheat. This had a particularly negative impact on the Chicago market. In contrast, a new contract from South Korea for 20,800 tons of US wheat hardly provided any stability.
The mood on Euronext was no better and March wheat fell by €0.50 to €185.25 per tonne.
