The wheat complex is trading with gains across the three markets on Friday. Chicago SRW futures are up 4 to 7 cents higher to round out the week. KC HRW futures are 4 to 9 cents in the green so far on Friday. MPLS spring wheat is trading with 5 to 7 cent gains at midday.Â
USDA’s Export Sales report has the total commitments for old crop wheat sales at 24.94 MMT, which is 15% larger yr/yr. That is 102% of the USDA estimate and near the 103% average sales pace. Actual shipments are 22.056 MMT, 90% of the USDA number and 1 percentage point behind normal.
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Tuesday will see the release of the May WASDE, with old crop stocks down 8 mbu at 930 mbu according a Bloomberg survey. New crop data will also be released, with US stocks seen at 845 mbu and a range of 759 to 955 mbu.
The annual Kansas HRW wheat tour will take place next week.
May 26 CBOT Wheat  is at $6.06 1/2, up 4 3/4 cents,
Jul 26 CBOT Wheat  is at $6.19 1/4, up 7 cents,
May 26 KCBT Wheat  is at $6.59, up 4 1/4 cents,
Jul 26 KCBT Wheat  is at $6.76, up 8 3/4 cents,
May 26 MIAX Wheat  is at $6.71 3/4, up 7 1/2 cents,
Jul 26 MIAX Wheat  is at $6.79, up 5 1/4 cents,
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