The wheat complex is mixed to begin your Friday morning, with KC showing some slight gains. They extended the bulls winning streak on Thursday. MPLS led the way this time, up 7 to 12 cents, with Kansas City 8 to 10 ½ cents higher in most contracts. Chicago futures were up 5 ¼ to 8 ¼ cents. 

Thursday’s Drought Monitor showed 17.01% of Kansas is now in D2 (severe) drought, up 10.03% from the previous week. Of the whole state, 97.87% is covered in some sort of abnormal dryness. D1-D4 (moderate to severe) drought has also expanded to 35.54% in OK, up 8.84% on the week. IN Texas, D2 (severe) drought was up 3.07% to 11.32%, with 2.05% listed at D3.

All wheat export sales for old crop were tallied at 82,035 MT during the week of April 18. That was a 4-week high and well above the previous week’s total. Of that 72,200 MT was to China, with most switched from unknown. New crop bookings totaled 371,853 MT in that week, on the high end of the trade estimates. 

On this week’s export front, Taiwan bought 106,675 MT of US origin wheat in this week’s tender. Algeria also purchased between 100,000-200,000 MT of durum wheat on Thursday according to trade reports. 

May 24 CBOT Wheat  closed at $6.02 1/4, up 7 3/4 cents, currently down 1 1/4 cents

Jul 24 CBOT Wheat  closed at $6.20 1/2, up 7 1/2 cents, currently down 1 1/2 cents

May 24 KCBT Wheat  closed at $6.32, up 7 3/4 cents, currently up 1/4 cents

Jul 24 KCBT Wheat  closed at $6.40 1/2, up 10 1/2 cents, currently up 3/4 cents

Jul 24 MGEX Wheat  closed at $6.98 1/4, up 12 3/4 cents, currently down 1/4 cents