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 trimmed by 4.68 MMT, mainly in India.
May 26 CBOT Wheat  is at $5.73 1/2, down 1 cent,
Jul 26 CBOT Wheat  is at $5.83, down 2 cents,
May 26 KCBT Wheat  is at $5.93 1/2, up 3 cents,
Jul 26 KCBT Wheat  is at $6.07 1/2, up 1 3/4 cents,
May 26 MIAX Wheat  is at $6.11 1/2, down 6 3/4 cents,
Jul 26 MIAX Wheat  is at $6.27 1/2, down 6 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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