Wheat is showing 1 to 3 cent lower trade action on Friday morning. The wheat complex was under pressure across the three exchanges on Thursday. Chicago SRW futures were 5 to 13 cents in the red on the day. Open interest implied new selling interest, up 4,868 contracts. KC HRW futures were 5 ¼ to 11 ¾ cents lower into the final bell on Thursday. OI was up 2,317 contracts. MPLS spring wheat was down 4 ¼ to 6 cents at the close. The CBoT will be closed on Monday for Memorial Day, with the Tuesday session showing a normal open.
Export Sales data from Thursday indicated 166,342 MT of old crop wheat sold in the week of 5/14. That was a 3-week high and well above the net cancellations from the same week last year. The MY ends in 10 days. Japan was the largest buyer of 98,300 MT, with 60,000 MT sold to Panama. Sales for 2026/27 were at 130,488 MT. That was back below last week’s total and well below the same week last year. Unknown destination was the buyer of 51,500 MT, with 38,800 MT sold to Mexico.
