The wheat complex is back to lower action on Friday, giving back some of the Thursday pop higher. CBT futures are 5 to 6 cents in the red so far. Kansas City HRW contracts are 5 to 7 cents lower so far on Friday. MPLS spring wheat is showing 5 to 6 cent losses across most contracts at Friday’s midday.
Export Sales data has total wheat commitments at 9.571 MMT, which is slightly below the same period in 2020/21. That is also 41% of USDA’s projected total, ahead of the 39% average sale pace.
Sovecon estimates the Russian wheat crop at 83.3 MMT, a slight reduction from the previous estimate of 83.6 MMT. The French soft wheat crop is estimated at 89% harvested according to FranceAgriMer.
Sep 25 CBOT Wheat  is at $5.17 1/2, down 5 3/4 cents,
Dec 25 CBOT Wheat  is at $5.37 1/2, down 5 cents,
Sep 25 KCBT Wheat  is at $5.19 1/4, down 7 cents,
Dec 25 KCBT Wheat  is at $5.39, down 5 3/4 cents,
Sep 25 MGEX Wheat  is at $5.72, down 5 3/4 cents,
Dec 25 MGEX Wheat  is at $5.95 1/2, down 5 3/4 cents,
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. This article was originally published on Barchart.com
