The wheat complex heading into the weekend with losses across the three exchanges. Chicago SRW futures are down 10 to 12 cents. Kansas City HRW contracts are down 13 to 15 cents.   MPLS spring wheat is down another 10 to 12 cents. 

Export Sales data shows that exporters are sold on 36% of the USDA export projection for the 2024/25 marketing year, where we’d normally be sold on 37% of the crop. 

The Wheat Quality Council Spring wheat tour wrapped up on Thursday, finding a state average yield for spring wheat at 54.5 bpa following the three-day tour. That was a record for the event going back to 1992 and more than 7 bpa above last year and 12.5 bpa larger than the 5-year average.

Taiwan mill importers purchased 105,650 MT of US wheat in a tender on Friday. 

The FranceAgriMer pegged the country’s wheat harvest at 41% complete, up 27% from the week prior but still behind average. Conditions were down 2% to 505 gd/ex. SovEcon raised their projection for the Russian wheat crop again, this time by 0.5 MMT to 84.7 MMT.

Sep 24 CBOT Wheat  is at $5.27, down 10 3/4 cents,

Dec 24 CBOT Wheat  is at $5.51 3/4, down 10 3/4 cents,

Sep 24 KCBT Wheat  is at $5.47 1/4, down 14 1/4 cents,

Dec 24 KCBT Wheat  is at $5.63 1/2, down 14 1/2 cents,

Sep 24 MGEX Wheat  is at $5.91 1/4, down 12 1/2 cents,

Dec 24 MGEX Wheat  is at $6.10 1/2, down 11 1/2 cents,