Wheat is showing mostly lower trade on Friday morning with winter wheats softer and spring wheat slightly higher. The wheat complex was in rally mode on Thursday with the hard red contracts, both spring and winter, pushing higher. Chicago SRW futures were 1 to 2 cents in the green. Preliminary open interest suggested new buying, up 4,428 contracts. KC HRW futures were 9 to 10 cents higher at the close. OI was up 1,118 contracts. MPLS spring wheat was up 10 to 11 cents on Thursday.
Export Sales data from Thursday for the week ending on November 27 showed 460,655 MT of wheat sales in that week. That was a 27.4% increase from last week and 21.8% larger than the same week last year. Commitments for wheat exports are now 18.94 MMT, or 696 million bushels, which is 21.8% larger than last year.
