The wheat complex is trading with slight weakness to close out the week. Chicago SRW futures are fractionally lower on Friday. KC HRW futures are 1 to 2 cents lower across most contracts. MPLS spring wheat is down 2 to 3 cents at midday.
Export sales data, now updated just January 1 has wheat export commitments of shipped and unshipped sales at 20.228 MMT, 18% above a year ago. That is also 83% of the USDA estimate and in line with the average sales pace. Export shipments are at 15.16 MMT, which is 21% above last year. That is 61% of USDA’s export number and ahead of the 57% average shipping pace.
USDA will release an updated WASDE on Monday, with wheat ending stocks seen down 5 mbu to 896 mbu.
Mar 26 CBOT Wheat is at $5.17 1/2, down 1/2 cent,
May 26 CBOT Wheat is at $5.28 3/4, down 1/4 cent,
Mar 26 KCBT Wheat is at $5.28 3/4, down 1 1/2 cents,
May 26 KCBT Wheat is at $5.41 1/4, down 1 3/4 cents,
Mar 26 MIAX Wheat is at $5.68 1/2, down 2 3/4 cents,
May 26 MIAX Wheat is at $5.79 1/4, down 2 1/4 cents,
