The wheat complex is showing modest losses on Friday. Chicago SRW futures are 1 to 2 cents in the red so far on the day. KC HRW futures are 2 to 3 cents in the red at midday. MPLS spring wheat is down 1 to 2 cents in the front months on Friday. Crude oil losses of $3.01 continue to add pressure.
USDA Export Sales data has the new crop wheat sales commitments at 3.925 MMT, which is now down 26.44% from the same week last year.
The Argentina wheat crop was estimated at 32.4% planted according to the Buenos Aires Grain Exchange, well above the 5-year average of 20%. FranceAgriMer showed the French soft wheat crop at 76% good/excellent, down 2% from the previous week. Durum wheat ratings were 65%, a drop of 6%.
Jul 26 CBOT Wheat is at $5.80 1/4, down 1 1/2 cents,
Sep 26 CBOT Wheat is at $5.93 1/4, down 2 cents,
Jul 26 KCBT Wheat is at $6.17 3/4, down 2 1/2 cents,
Sep 26 KCBT Wheat is at $6.29 1/4, down 2 3/4 cents,
Jul 26 MIAX Wheat is at $6.20, down 1 cent,
Sep 26 MIAX Wheat is at $6.45 3/4, down 1 1/2 cents,
