Wheat is mixed on Monday morning, with the CBT and KC markets on the positive side of unchanged, and MPLS weaker. The wheat complex faded lower into the weekend, with all three markets in the red. CBT futures were 5 to 7 cents in the red at the close, with September falling back 21 ½ cents. Kansas City HRW contracts were 6 to 7 ½ cents lower on Friday, as September was down just 7 ¾ cents last week to narrow the spread with their soft red counterpart. MPLS spring wheat saw losses of 4 to 6 cents across the front months, with September down 12 ½ cents on the week.
The quarterly Flour Milling report from USDA showed April – June wheat ground for flour totaling 222.94 mbu of wheat. That was 3.7 mbu below the previous quarter and 3 mbu shy of the same quarter last year.
