Wheat is starting off Friday with losses across the three markets. The wheat complex was weaker on Thursday, following an increased stocks number from USDA. Chicago SRW futures saw losses of 4 ¾ to 7 ¼ cents at the close. Open interest was down 15,543 contracts, as May dropped 21,480 contracts. KC HRW futures were down 4 ¾ to 8 ¼ cents on the session. OI was down 5,151 contracts on Thursday. MPLS spring wheat was down 4 ¾ to 5 ¾ cents in on the day. Crude oil was back up $4.06 on Thursday.
Export Sales data from Thursday morning tallied 163,950 MT of old crop wheat business in the week of April 2, well above the week prior and 52.49% above the same week last year. Venezuela was the top buyer of 52,500 MT, with 51,000 MT sold to Japan. New crop business was shy of traders’ estimates of 150,000 MT to 400,000 MT at 90,656 MT. Mexico was the buyer of 33,800 MT, with 18,000 MT to the Philippines.
