The wheat complex is trading with double digit gains on Friday. Chicago SRW futures are up 14 to 16 cents so far on the day. KC HRW futures are 19 to 20 cents in the green in the front months. MPLS spring wheat is showing 12 to 13 cent gains at midday. Crude oil is bouncing off early lows and up $1.19 at midday.
USDA’s Export Sales data has wheat export commitments at 23.663 MMT, which is up 11% from last year. That is also 97% of the USDA export projection at 900 mbu and behind the 99% average sales pace. Shipment data is running ahead of schedule, at 18.894 MMT, which is 77% of USDA’s number vs. the 74% average pace.
South Korean importers purchased a total of 50,000 MT of wheat from the US in a tender overnight. The French wheat crop was estimated at 84% good/excellent according the the FranceAgriMer, steady with the previous week.
May 26 CBOT Wheat is at $6.14 1/4, up 15 3/4 cents,
Jul 26 CBOT Wheat is at $6.24 1/4, up 14 3/4 cents,
May 26 KCBT Wheat is at $6.33, up 19 1/2 cents,
Jul 26 KCBT Wheat is at $6.46 1/4, up 19 cents,
May 26 MIAX Wheat is at $6.46 1/2, up 12 cents,
Jul 26 MIAX Wheat is at $6.60 3/4, up 12 1/2 cents,
