The wheat complex is showing modest losses on Friday. Chicago SRW futures are 1 to 2 cents in the red so far on the day. KC HRW futures are 2 to 3 cents in the red at midday. MPLS spring wheat is down 1 to 2 cents in the front months on Friday. Crude oil losses of $3.01 continue to add pressure.
USDA Export Sales data has the new crop wheat sales commitments at 3.925 MMT, which is now down 26.44% from the same week last year.Â
The Argentina wheat crop was estimated at 32.4% planted according to the Buenos Aires Grain Exchange, well above the 5-year average of 20%. FranceAgriMer showed the French soft wheat crop at 76% good/excellent, down 2% from the previous week. Durum wheat ratings were 65%, a drop of 6%.
Jul 26 CBOT Wheat  is at $5.80 1/4, down 1 1/2 cents,
Sep 26 CBOT Wheat  is at $5.93 1/4, down 2 cents,
Jul 26 KCBT Wheat  is at $6.17 3/4, down 2 1/2 cents,
Sep 26 KCBT Wheat  is at $6.29 1/4, down 2 3/4 cents,
Jul 26 MIAX Wheat  is at $6.20, down 1 cent,
Sep 26 MIAX Wheat  is at $6.45 3/4, down 1 1/2 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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