Wheat May '27 (ZWK27)
Wheat Futures Market News and Commentary
The wheat complex is showing mixed trade on Friday. Chicago SRW futures are slipping 1 to 2 cents at midday. KC HRW futures are showing 1 to 3 cent gains in the nearby contracts. MPLS spring wheat is down 6 to 7 cents in the front months on FridayÂ
Export Sales data from Thursday has export sales commitments at 24.441 MMT, a 13% increase yr/yr. That matches the USDA estimate and is in line with the average sales pace. Shipments are 20.379 MMT as of April 2, 18% above a year ago. That is 83% of the USDA forecast and ahead of the 83% average shipping pace.
The monthly WASDE update from USDA tallied wheat US ending stocks 7 mbu higher to 938 mbu. That came on a 1 mbu cut to seed use, a 5 mbu increase to imports and 1 mbu assumed for rounding reasons. The cash average price was still up a nickel to $5. World ending stocks were raised by another 6.16 MMT, to 283.12 MMT. That came from a mix of increased production, with Russia up 0.8 MMT and EU rising 1.11 MMT, and use trimme... Read more
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