The wheat complex is trading with losses across all three markets. Chicago SRW futures are 2 to 3 cents lower. KC HRW futures are 7 to 8 cents in the red at midday. MPLS spring wheat are down 3 to 4 cents on the session.
Crude oil is up just 27 cents at midday, as reports of a US/Iran ceasefire extension are pulling the market off the highs.
USDA will release Export Sales data on Friday, due to the Monday holiday. Analysts are looking for old crop wheat sales to be 0 to 250,000 MT in the week of 5/21, with new crop seen 100,000-300,000 MT.
Jul 26 CBOT Wheat closed at $6.20 1/2, down 2 cents,
Sep 26 CBOT Wheat closed at $6.33 3/4, down 2 cents,
Jul 26 KCBT Wheat closed at $6.62 1/4, down 7 1/2 cents,
Sep 26 KCBT Wheat closed at $6.74, down 7 1/2 cents,
Jul 26 MIAX Wheat closed at $6.78 1/2, down 3 1/4 cents,
Sep 26 MIAX Wheat closed at $7.02 1/4, down 3 cents,
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