The wheat complex is reverting from early weakness to post marginal midday gains. Chicago SRW futures are fractionally to 2 cents higher. KC HRW futures is showing 1 to 3 cent gains at midday. MPLS spring wheat is fractionally higher.
The next 7 days are expected to remain dry from the western part of KS, to the panhandle of TX according to the NOAA 7-day QPF. SRW area is still expected to see 1 to 3 inches.
French soft wheat exports outside the EU are estimated at 7.1 MMT according to the FranceAgriMer, with shipments within the EU expected to total 7.7 MMT, a 0.13 MMT increase from the week prior. French ending stocks are estimated at 3.31 MMT, a 0.8 MMT drop from the previous number.
May 26 CBOT Wheat is at $5.93 3/4, up 1 3/4 cents,
Jul 26 CBOT Wheat is at $6.01 3/4, up 1/2 cent,
May 26 KCBT Wheat is at $6.25 1/2, up 2 3/4 cents,
Jul 26 KCBT Wheat is at $6.37 3/4, up 1 1/2 cents,
May 26 MIAX Wheat is at $6.38 1/4, up 1/4 cent,
Jul 26 MIAX Wheat is at $6.52 1/4, up 1/4 cent,
