Wheat Posting Weakness on Friday

The wheat complex is heading into the weekend with midday losses on Friday. Chicago SRW futures are falling 3 to 4 ½ cents on Froday.. KC HRW futures are showing fractional to 2 cent losses at midday. MPLS spring wheat is fractionally lower so far on Friday.

The forecast for the next 7 days showed light precip for parts of the Plains, with some SRW country looking at heavier totals.

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Weaker trade may be associated with a meeting this Sunday between President Trump and Ukraine’s president Zelensky to discuss peace talks.

Export Sales data as of December 11 has the wheat export commitment total at 19.855 MMT, which is 22% ahead of last year. That is also 81% of USDA’s full marketing year projection and faster than the 79% average sales pace.

Mar 26 CBOT Wheat  is at $5.17 1/4, down 4 1/2 cents,

May 26 CBOT Wheat  is at $5.29, down 3 1/4 cents,

Mar 26 KCBT Wheat  is at $5.32 1/2, down 1 1/2 cents,

May 26 KCBT Wheat  is at $5.45 1/4, down 3/4 cent,

Mar 26 MGEX Wheat  is at $5.79 1/2, down 3/4 cent,

May 26 MGEX Wheat  is at $5.90, down 1/4 cent,