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The wheat complex saw an increase on Friday, with Chicago SRW futures rising by 3 to 7 cents, while KC HRW and MPLS spring wheat posted gains up to 5 1/2 cents. On first notice day, there were 416 deliveries against September CBT wheat futures.
As of now, all wheat export commitments have reached 10.023 MMT, accounting for 45% of the USDA forecast for 2024/25, lagging behind the 47% average pace. Total shipments stand at 4.999 MMT, or 22% of USDA’s forecast, compared to the 24% average.
In Russia, the wheat production estimate is set at 82.5 MMT, a decrease of 0.8 MMT from the previous estimate.
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