Wheat is facing a weaker start to Friday, with weakness across most contracts The wheat complex found late session strength to close mostly higher on the session. Chicago SRW contracts closed the Thursday session with contracts 4 ½ to 5 ½ cents higher. Open interest wa down 1,584 contracts on Thursday. KC HRW futures were up 3 to 5 cents in most contracts at the close. OI dropped 7,152 contracts. MPLS spring wheat was mixed, with nearby July up 3 cents and other contracts 1 ¼ to 3 ¼ cents lower.
Export Sales data was released this morning, with USDA showing 504,489 MT of wheat sold in the week of 6/18. That was 25.86% above the week prior and nearly double the same week last year. Mexico was the top buyer of 204,400 MT, with Japan purchasing 118,700 MT.
