The wheat complex is heading back lower on Friday. Chicago SRW futures are down 4 to 5 cents across the nearbys. KC HRW contracts are showing fractional to 3 cent losses. MPLS spring wheat is down fractionally to 2 cents on the Friday session. December wheat options expire today, with first notice day next Friday. The US dollar index is extending its strength to 2 year highs at midday.
Export Sales data released on Thursday tallied marketing year wheat and product shipments at a 32% increase yr/yr at 10.078 MMT. That is 44% of USDA’s projected total for the MY, lagging the 47% average pace. Total commitments are now 14.939 MMT, which is 23% above a year ago, and 67% of the USDA number, slightly behind the 69% average pace.
The French soft wheat crop is listed at 90% planted, up from the 78% in the week prior and 73% from the same week last year. The crop was listed at 88% in good or excellent condition, up from the 83% last year.
Dec 24 CBOT Wheat is at $5.43 3/4, down 5 cents,
Mar 25 CBOT Wheat is at $5.64 1/2, down 5 cents,
Dec 24 KCBT Wheat is at $5.55, down 1/2 cent,
Mar 25 KCBT Wheat is at $5.64 3/4, down 2 1/2 cents,
Dec 24 MGEX Wheat is at $5.87 3/4, down 1/4 cent,
Mar 25 MGEX Wheat is at $6.00 1/2, down 1 3/4 cents,
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