The wheat complex is falling on Friday’s midday, with all three markets taking losses. CBT soft red wheat futures are 7 to 9 cents in the red on Friday. Preliminary open interest was up 10,762 contracts. KC HRW futures are down 6 to 7 cents at midday. MPLS spring wheat futures are 5 to 7 cents lower so far on the day.
Winter wheat planting should be able to near its end in the coming weeks, with the next 7 days looking dry for much of the growing region.
For the current crop, SovEcon estimates production to total 87.8 MMT, a 0.6 MMT increase from the previous number. The French winter wheat crop is estimated at 5% planted as of October 6 according to FranceAgriMer.
Dec 25 CBOT Wheat is at $4.98 3/4, down 7 3/4 cents,
Mar 26 CBOT Wheat is at $5.15 3/4, down 8 1/4 cents,
Dec 25 KCBT Wheat is at $4.83 1/2, down 6 1/4 cents,
Mar 26 KCBT Wheat is at $5.05, down 6 1/4 cents,
Dec 25 MGEX Wheat is at $5.51 1/2, down 5 1/2 cents,
Mar 26 MGEX Wheat is at $5.71, down 6 1/4 cents,
