All three wheat exchanges are down midday on Friday, with Chicago SRW futures falling by 6 to 7 cents, KC contracts down by 4 to 5 cents, and MPLS spring wheat experiencing smaller fractional losses. The September 25 CBOT Wheat is at $5.35 1/4, down 6 1/4 cents, while December 25 CBOT Wheat is at $5.55 1/4, down 6 cents.
As of now, USDA’s Export Sales data reports 8.984 million metric tons of wheat sold this marketing year, representing 39% of the USDA estimate. Additionally, a South Korean importer purchased 85,200 MT of wheat from the US on Friday morning, and the North Dakota yield for spring wheat is estimated at 49.0 bushels per acre, lower than last year’s 54.5 bushels but above the 5-year average of 44.6 bushels. FranceAgriMer reports that the soft wheat harvest is 86% complete, up from 71% last week.
