The wheat complex was lower across the three markets in the midweek session. Chicago SRW futures closed the Wednesday session with contracts down 2 to 5 ¾ cents. KC HRW futures were down 4 to 5 ¾ on the day. MPLS spring wheat posted losses of ¼ to 2 ¼ cents at the closing bell.
The 7-day forecast from NOAA shows the western half of KS through the panhandle of TX with little to no precip. Areas further east is looking at 1 to 2 inches of precip.
Weekly Export Sales data will be out on Thursday, with old crop wheat seen in a range of 0 to 250,000 MT for the week of April 16. New crop sales are seen in a range of 100,000 to 300,000 MT.
SovEcon estimates the Russian wheat crop at 89.7 MMT, a 2.1 MMT increase from their previous number, citing favorable weather. EU soft wheat exports are seen at 19.01 MMT from July 1 to April 19 according to the EU commission, which was 1.39 MMT above the same period last year.
May 26 CBOT Wheat closed at $5.99 1/4, down 5 3/4 cents,
Jul 26 CBOT Wheat closed at $6.07, down 5 3/4 cents,
May 26 KCBT Wheat closed at $6.37 3/4, down 5 3/4 cents,
Jul 26 KCBT Wheat closed at $6.50, down 5 3/4 cents,
May 26 MIAX Wheat closed at $6.65 1/4, down 1/4 cent,
Jul 26 MIAX Wheat closed at $6.81, down 2 1/4 cents,
