Wheat is trading with mixed action in Friday morning, with the winter wheat contracts heading higher. The wheat complex continued strength on Thursday, with contracts higher across the three exchanges. Chicago SRW futures close with contracts 5 to 6 cents in the green. KC HRW futures were up 4 to 5 cents in the front months. Some short covering was noted, with open interest down 3,813 contracts. MPLS spring wheat was 7 to 9 cents higher at the close.
Export Sales data released on Thursday showed wheat sales for the week ending on January 22 at 558,201 MT. That was back down from last week but 22.39% above the same week last year. The largest buyer was Japan at 141,300 MT, with 96,800 MT sold to Mexico and 90,500 TM to Nigeria.
Monthly Census trade data totaled 1.616 MMT (59.4 mbu) during November, a 5-year high for the month.
The European Commission estimates EU wheat production at 134.2 MMT, down 0.2 MMT from last month. Ending stocks are up 1.3 MMT, with exports 1.5 MMT lower to 29.5 MMT.
Mar 26 CBOT Wheat closed at $5.41 1/2, up 5 1/2 cents, currently up 2 cents
May 26 CBOT Wheat closed at $5.50 1/4, up 5 3/4 cents, currently up 1 1/2 cents
Mar 26 KCBT Wheat closed at $5.47, up 4 3/4 cents, currently up 2 cents
May 26 KCBT Wheat closed at $5.57 3/4, up 5 cents, currently up 1 1/4 cents
Mar 26 MIAX Wheat closed at $5.82 1/2, up 7 1/2 cents, currently down 2 cents
May 26 MIAX Wheat closed at $5.95 1/2, up 8 1/4 cents, currently down 2 cents
