The wheat complex is showing mixed trade on Thursday, with KC weaker. Chicago SRW futures are 3 to 4 cents higher so far on Thursday. KC HRW futures are down 2 to 4 cents in the nearbys. MPLS spring wheat is 2 to 3 cents higher in the front months.
Export Sales data from this morning showed 189,887 MT of old crop wheat sold in the week ending on March 12, below trade estimates of 300,000 MT to 550,000 MT. That was a 58.31% drop from last week but week above last year’s net reductions for this week. New crop business was tallied at 212,059 MT, exceeding trade ideas of 0-50,000 MT. That was still 56.82% below last year.
