Wheat is trading mixed on Friday morning, with contracts in SRW and spring wheat higher and KC fractionally mixed. The wheat complex saw strength late the session to close with gains across the three markets. Chicago SRW was fractionally higher to 7 cents in the green, led by the neatbys. Open interest suggested some short covering, down 5,842 contracts. KC HRW futures were 1 ½ to 5 ¾ cents higher at the close. OI was up 2,325 contracts, hinting at new length coming in. MPLS spring wheat was 3 ½ to 4 ½ cents in the green.
USDA’s Export Sales report from Thursday morning showed 289,255 MT of wheat sales in the week of 9/24. That was up 8.11% from last week but down 8.43% from the same week last year. The top buyer was Mexico 94,400 MT, with 63,000 MT sold to the Philippines.
