The wheat market is trading with Friday losses across the three markets. CBT soft red wheat futures are trading with midday losses of 7 to 7 ¼ cents on Friday. KC HRW futures are 7 to 8 cents lower at midday. MPLS spring wheat futures are back down 5 to 6 cents as bulls fail to push higher following Thursday’s strength.
The weekly USDA Export Sales report has export sale commitments now at 13.699 MMT, which is up 23% from last year and the highest since 2013/14. That is 56% of the USDA export projection and ahead of the 5-year average pace at 54%.
