Wheat prices showed mixed movements on Friday morning, with Chicago SRW futures declining between 11¾ and 18½ cents for May deliveries. Notably, 312 delivery notices were issued against May CBT wheat futures, while Kansas City HRW futures dropped 5¼ to 12¼ cents, with 245 deliveries against May KC wheat. Open interest increased by 5,998 contracts on Thursday.
In export sales, the USDA reported 226,096 metric tons (MT) of old crop wheat sold during the week ending April 23, marking a five-week high, with Indonesia as the largest buyer at 70,000 MT. New crop sales totaled 156,715 MT, the highest in four weeks. In contrast, the dry weather persists across much of the U.S. for the coming week, with some precipitation expected in parts of Central and Northern Plains.
Lastly, Russian wheat exports for 2025/26 are projected at 47.4 million metric tons (MMT), and the European Commission estimates EU wheat production at 127.3 MMT, reflecting a slight increase, while the condition of the French soft wheat crop is rated at 81% good/excellent, a decrease of 2%.
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