The wheat complex is trading with slight weakness to close out the week. Chicago SRW futures are fractionally lower on Friday. KC HRW futures are 1 to 2 cents lower across most contracts. MPLS spring wheat is down 2 to 3 cents at midday.
Export sales data, now updated just January 1 has wheat export commitments of shipped and unshipped sales at 20.228 MMT, 18% above a year ago. That is also 83% of the USDA estimate and in line with the average sales pace. Export shipments are at 15.16 MMT, which is 21% above last year. That is 61% of USDA’s export number and ahead of the 57% average shipping pace.
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USDA will release an updated WASDE on Monday, with wheat ending stocks seen down 5 mbu to 896 mbu.
Mar 26 CBOT Wheat is at $5.17 1/2, down 1/2 cent,
May 26 CBOT Wheat is at $5.28 3/4, down 1/4 cent,
Mar 26 KCBT Wheat is at $5.28 3/4, down 1 1/2 cents,
May 26 KCBT Wheat is at $5.41 1/4, down 1 3/4 cents,
Mar 26 MIAX Wheat is at $5.68 1/2, down 2 3/4 cents,
May 26 MIAX Wheat is at $5.79 1/4, down 2 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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