Wheat is trading with early Friday Gains across the three markets. The wheat complex was down across all three exchanges to close out the Thursday session. CBT soft red wheat futures was down 1 to 2 ½ cents on the day. The CBOT showed another 3 deliveries issued for September wheat overnight. Preliminary open interest data suggested net new selling, up 9,095 contracts on Thursday. KC HRW futures were up 3 to 4 cents at the close. There were 8 deliveries against Sep KC wheat overnight. Preliminary OI was up 5,413 contracts on Thursday. MPLS spring wheat was 2 to 4 cents in the red.
Due to the Monday holiday, the USDA Export Sales report will be delayed until this morning. Traders are looking for sales to total 350,000 to 700,000 MT of wheat in the week of August 28.
