Wheat May '22 (ZWK22)

Wheat is trading with early losses across the three exchanges so far on Monday as the market comes out of the long weekend. The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with May down 6 ¾ cents on the week. KC HRW futures were 2 to 3 1/2 cents higher on Thursday, as May fell 17 cents last week. MPLS spring wheat was 3 to 4 ¾ cents in the green, with May up 1 ½ cents last week. 

The next week looks a little wetter for parts of the Southern Plains, with parts of Central Texas through the panhandle and up through parts of Nebraska are seen with nearly 1 inch of precip. We will get our first look at the Crop Progress report from a national level this afternoon. 

Export Sales data from Thursday showed just 23,521 MT of old crop wheat sold in the week of 3/26. That was a marketing year low. Mexico has net cancellations to 56,200 MT, with unknown seeing net reductions of 60,100 MT, like... Read more