The Chicago wheat complex exhibited mixed trading on Friday, with KC HRW futures rising by 2 to 3 cents. As of June 4, the FAS reported new crop export sales at 4.591 million metric tons (MMT), accounting for 21.77% of the USDA’s export projection for the marketing year 2026/27, slightly below the five-year average of 23.18%.
Wheat production was revised down to 1.029 billion bushels for winter wheat, with yields decreased to 46.8 bushels per acre. The USDA maintained old crop US stocks at 935 million bushels, while new crop carryout was cut to 744 million bushels. In France, 77% of the soft wheat crop was reported in good/excellent condition, up 1 percentage point from the previous week.
Current wheat prices included: July CBOT Wheat at $5.87, September CBOT Wheat at $5.98, July KCBT Wheat at $6.37¼, and July MIAX Wheat at $6.20.
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