Wheat is trading with losses across the three exchanges early on Friday. The wheat complex was under pressure with the rest of the grains on Thursday, as the Trump/Xi meeting yielded very few headlines for any potential ag purchases. Chicago SRW futures were down 11 3/4 to 18 cents in the front months. There were 11 deliveries issued for May CBT wheat overnight. Open interest was up 3,512 contracts on Thursday. KC HRW futures were leading the charge, with 11 1/4 to 20 cent losses. OI was rose 2,345 contracts. MPLS spring wheat was 15 3/4 to 17 3/4 cents lower on Thursday.
The Kansas Wheat Quality Tour was completed on Thursday, with an average yield of 38.9 bpa. That was the lowest average yield for the tour since 2023, and the second lowest since 2018. The production total was 218 mbu, which compares to the 214 mbu from USDA on Tuesday.
