Wheat is showing mostly lower trade in the winter wheat contracts, with spring wheat slightly higher. The wheat complex fell lower on Friday, with contracts down across the three markets. Chicago SRW futures were 5 to 6 cents lower on Friday, as March was 8 ¼ cents in the red on the week. Open interest was down 8,052 contracts on Friday. KC HRW futures were down 7 to 8 cents in most contracts, as March slipped 13 ½ cents last week. OI was down 6,401 contracts. MPLS spring wheat was steady to 2 cents lower, as March was down 8 ¼ cents on the week.
Export Sales data has wheat export commitments at 21.974 MMT, a 17% improvement from last year for the same week. That is now 90% of USDA’s forecast and slightly behind the 91% average pace.
