The wheat market is experiencing declines on Friday, with Chicago SRW futures down 9 to 10 cents, KC HRW futures declining by 15 to 16 cents, and MPLS spring wheat falling 7 to 8 cents. The current trading prices include May 26 CBOT Wheat at $5.98, July 26 CBOT Wheat at $6.09 3/4, and May 26 KCBT Wheat at $6.12.
According to USDA’s Export Sales data, wheat export commitments stand at 23.853 million metric tons (MMT), reflecting a 14% increase from the previous year and representing 97% of the USDA’s projection of 900 million bushels. Wheat shipments are ahead of schedule, reaching 19.279 MMT or 78% of the USDA target, compared to a 76% average pace. Additionally, FranceAgriMer rates the French wheat crop at 84% good/excellent, unchanged from last week.
