The wheat complex is down double digits across most contracts on Friday. Crude Oil is the pressure factor, down $2.08/bbl, money is flowing out ahead of the weekend, with the President looking over the proposed agreement between the US and Iran. Chicago SRW futures are down 13 cents in most front months. KC HRW futures are 14 to 15 1/2 cents in the red at midday. MPLS spring wheat is down 12 to 13 1/2 cents on the session.
USDA released Export Sales data this morning, showing a total of 807,348 MT in net cancellations for old crop, shy to of the 0 to 200,000 MT estimates. That was a MY low. New crop business exceeded the 100,000-300,000 MT estimates, at 1.058 MMT. That was a MY high and 48.66% above the same week last year.
