The wheat complex is posting weaker trade on Thursday’s midday. CBT soft red wheat futures are down 1 to 3 cents so far on the day. KC HRW futures are posting fractional losses in the front months on Thursday. MPLS spring wheat is down 2 to 4 cents so far on the session.
Export Sales data from USDA this morning indicated sales backing off slightly from last week to 722,846 MT but was still on the higher side of the 400,000 and 850,000 MT estimates. That was the second largest for the marketing year only behind last week and more than double the same week last year.
