Spring Wheat May '10 (MWK10)
Spring Wheat Futures Market News and Commentary
Wheat is kicking of Friday with modest fractional to 3 cent gains. The wheat complex remained under pressure on Thursday, with the three markets falling into the close. Chicago SRW futures posted losses of 4 ¼ to 8 cents at the Thursday close. There were 12 deliveries issued against May CBT wheat overnight. KC HRW futures led the downside charge, down 19 ½ to 21 cents. MPLS spring wheat was down 13 to 19 ½ cents across most contracts on the day.Â
USDA’s Export Sales report from Thursday morning indicated 78,772 MT of old crop sales in the week of 4/30. That was the second lowest total for the marketing year. Vietnam was the buyer of 67,400 MMT (66,000 MT switched from unknown), with Thailand buying 53,700 MT and 40,000 MT sold to Mexico. New crop sales were tallied at 187,538 MT, the 4th largest for the marketing year. Much of that was sold to unknown buyers (100,000 MT), with 61,000 MT sold to Thailand.
IKAR estimates the Russian wheat export total at 44.5 MMT for 2025/... Read more
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