The wheat complex closed Friday with most exchanges higher. Chicago SRW futures saw steady to 5 cent higher trade, as May was 16 ¼ cents in the green since last Friday. KC HRW futures posted ¾ to 4 ½ cent gains, as May rallied 23 ½ cents on the week. MPLS spring wheat was mixed, with contracts down 1 ¾ to 9 ¾ cents higher on Friday, as May was 28 ½ cents higher over the week.
The quarterly Flour Milling report from NASS showed a total of 222.4 million bushels of wheat ground for flour in January through March, a 4.2 mbu drop from the same period last year.
CFTC data from Friday showed managed money in CBT wheat futures and options flipping back to a net long of 10,664 contracts as of Tuesday, a move of 21,381 contracts to the long side. In KC wheat, spec traders were busy increasing their net long by 2,615 contracts to 30,624 contracts.
Weekly Export Sales from Thursday has total export commitments at 24.859 MMT, which is 15% above the same time last year. That is 102% of the USDA export projection and near the 102% 5-year average.
May 26 CBOT Wheat closed at $6.24 1/2, up 3/4 cent,
Jul 26 CBOT Wheat closed at $6.37 3/4, up 1 cent,
May 26 KCBT Wheat closed at $6.82 1/2, up 4 1/2 cents,
Jul 26 KCBT Wheat closed at $6.94 1/2, up 1 cent,
May 26 MIAX Wheat closed at $7.05 1/2, up 9 3/4 cents,
Jul 26 MIAX Wheat closed at $7.04, down 1 3/4 cents,
