Wheat is trading lower so far on Monday morning. The wheat complex closed Friday with most exchanges higher. Chicago SRW futures saw steady to 5 cent higher trade, as May was 16 ¼ cents in the green since last Friday. There were 138 delivery notices for May CBT wheat on Friday night. KC HRW futures posted ¾ to 4 ½ cent gains, as May rallied 23 ½ cents on the week. May KC wheat had 36 deliveries issued on Friday night. MPLS spring wheat was mixed, with contracts down 1 ¾ to 9 ¾ cents higher on Friday, as May was 28 ½ cents higher over the week.
The quarterly Flour Milling report from NASS showed a total of 222.4 million bushels of wheat ground for flour in January through March, a 4.2 mbu drop from the same period last year.
