The wheat complex is showing mostly modest gains on Friday. Chicago SRW futures are mixed, with May down 3 ½ cents and other contracts up 1 to 2 cents. There were 312 delivery notices against May CBT wheat futures overnight. KC HRW futures are showing gains of a nickel in the nearby contracts on Friday. MPLS spring wheat is fractionally higher across the front months.
Much of the US remains dry for the next week, with exception to portions of central TX, as well as precip resuming in parts of SRW country later in the next 7 day period. Much of the Central/Northern Plains stretching to the northern part of TX remain dry.
Weekly Export Sales from Thursday has total export commitments at 24.859 MMT, which is 15% above the same time last year. That is 102% of the USDA export projection and near the 102% 5-year average.
May 26 CBOT Wheat is at $6.20 1/4, down 3 1/2 cents,
Jul 26 CBOT Wheat is at $6.38 1/4, up 1 1/2 cents,
May 26 KCBT Wheat is at $6.83, up 5 cents,
Jul 26 KCBT Wheat is at $6.98 1/2, up 5 cents,
May 26 MIAX Wheat is at $6.95 1/4, up 1/2 cent,
Jul 26 MIAX Wheat is at $7.06 1/4, up 1/2 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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