Wheat futures are trading in the black as the grain complex shining star for Friday. Chicago futures are 2 ¾ to 3 cents firmer so far. KC wheat is up by as much as 2 ¾ cents at midday. Front month spring wheat futures are trading 1 ½ to 2 cents in the black at midday.
Export Sales data from FAS had wheat sales at 131.6k MT for the week that ended 12/28. That was below the range of expectations and was nearly a MY low as the lowest since the week of 6/15. The season’s commitments remain 2% ahead of last year’s pace with 15.27 MMT on the books.
BAGE estimates the Argentine wheat crop at 15.1 MMT, a 2.7% increase via realized yields.
Mar 24 CBOT Wheat is at $6.16 1/2, up 3 cents,
May 24 CBOT Wheat is at $6.27 1/4, up 2 3/4 cents,
Mar 24 KCBT Wheat is at $6.28, up 2 1/4 cents,
Mar 24 MGEX Wheat is at $7.12 1/2, up 1 1/4 cents,
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