Wheat is falling across the three exchanges on Friday morning. The wheat complex faded some early Thursday gains, to close the session with losses. Chicago SRW contracts were 1 ¾ to 4 ¾ cents lower across most contracts on Thursday. Open interest was down 8,327 contracts. KC HRW futures slipped back 1 ¼ to 6 cents across the board. OI was down 192 contracts on Thursday. MPLS spring wheat was 3 ¼ to 5 cents lower.
USDA’s Export Sales report will be released this morning due to the Monday holiday, with traders looking to see if the drop in US prices has picked up any demand. Analysts surveyed by Reuters are looking for between 300,000 and 600,000 MT in wheat sales during the week of 10/8.
