Wheat Edging Out Gains on Friday
Wheat markets are posting small gains Friday, with Chicago SRW and Kansas City HRW futures fractionally higher, while MPLS spring wheat is steady to slightly lower. May options expire today. Export sales reached 21.483 MMT since June 1, up 14% from last year but trailing the usual sales pace. French soft wheat crop ratings slipped slightly to 74% good/excellent.
Wheat is trading with gains so far on Friday across the three markets. Chicago SRW futures are fractionally higher at midday. Kansas City HRW contracts are showing fractional gains. MPLS spring wheat is steady to down a penny. May options expire today.
Export Sales data shows a total of 21.483 MMT of wheat sold for shipment since June 1, which is 14% above the same time last year. Still, it is just 96% of the USDA forecast, behind the 103% average sales pace.
The FranceAgriMer estimates the French soft wheat crop at 74% good/excellent, down from 75% last week.
May 25 CBOT Wheat is at $5.29 3/4, up 1/2 cents,
Jul 25 CBOT Wheat is at $5.45 1/4, up 3/4 cents,
May 25 KCBT Wheat is at $5.38 1/2, up 3/4 cents,
Jul 25 KCBT Wheat is at $5.50 3/4, unch cents,
May 25 MGEX Wheat is at $5.92 1/4, down 1/4 cents,
Jul 25 MGEX Wheat is at $6.07 1/4, down 1/2 cents,
To Read more about Wheat News continue reading Agriinsite.com
Source : Nasdaq.com
