The wheat complex faded lower into the weekend, with all three markets in the red. CBT futures were 5 to 7 cents in the red at the close, with September falling back 21 ½ cents. Kansas City HRW contracts were 6 to 7 ½ cents lower on Friday, as September was down just 7 ¾ cents this week to narrow the spread with their soft red counterpart. MPLS spring wheat saw losses of 4 to 6 cents across the front months, with September down 12 ½ cents on the week.
The quarterly Flour Milling report from USDA showed April – June wheat ground for flour totaling 222.94 mbu of wheat. That was 3.7 mbu below the previous quarter and 3 mbu shy of the same quarter last year.
