The wheat complex is continuing the losing streak, with contracts down across the three exchanges. Chicago is down 9 to 12 cents across the front months. Kansas City contracts are 7 to 9 cents lower at midday. MPLS spring wheat are trading with losses of 3 to 4 cents on the day.  

USDA’s weekly Export Sales report was pushed back until later this morning and showed the largest total sales since mid-January at 589,695 MT. That was more than double the previous week and above the trade range of 200,000 to 500,000 MT estimates. The top buyer was South Korea at 118,600 MT, as the Philippines were in for 108,300 MT.  

On a septate export note, Taiwan purchased a total of 104,150 MT of wheat from the US. French firm, FranceAgriMer, left their soft wheat crop ratings alone on Friday. The crop was rated at 62% gd/ex. For reference, last year was 83%.

Jul 24 CBOT Wheat  is at $5.60 1/2, down 12 1/4 cents,

Sep 24 CBOT Wheat  is at $5.76 1/2, down 9 1/2 cents,

Jul 24 KCBT Wheat  is at $5.83 1/4, down 8 3/4 cents,

Sep 24 KCBT Wheat  is at $5.89, down 9 1/4 cents,

Jul 24 MGEX Wheat  is at $6.15 1/4, down 3 1/2 cents,

Sep 24 MGEX Wheat  is at $6.22, down 3 3/4 cents,