Wheat is mixed at midday, as most contracts are sticking close to unchanged on Thursday. Chicago SRW futures posted gains of 2 to 3 cents across most contracts. Kansas City HRW contracts were up 1 to 2 cents in the nearbys on Thursday. Minneapolis spring wheat futures were mixed, with July up 1 ¾ cents and other contracts lower.

Rains in much of southern KS, OK, and TX in the next week may put a slowdown in much early harvest activity.

USDA’s Export Sales report from morning showed net reductions of 49,114 MT in the last full week of the 2024/25 MY. That was in the middle of analysts’ estimates calling for 200,000 MT in net reduction to 100,00 MT in sales. New crop was tallied at 444,857 MT, in the lower half of the at 300,000 to 800,000 MT estimates. That was also a 5-week low for 2025/26 sales. Much of the new crop business was to unknown destinations at 140,500 MT, wit 131,000 MT purchased by Nigeria, and Mexico buying 108,400 MT. 

Monthly wheat exports totaled 2.198 MMT (80 mbu) during April, which was a 4-year high according to Census data. That was also 22.17% larger than the March total. 

Jul 25 CBOT Wheat  closed at $5.45 1/2, up 2 1/4 cents,

Sep 25 CBOT Wheat  closed at $5.59 3/4, up 2 1/2 cents,

Jul 25 KCBT Wheat  closed at $5.42 1/2, up 2 cents,

Sep 25 KCBT Wheat  closed at $5.55 1/2, up 1 1/2 cents,

Jul 25 MGEX Wheat  closed at $6.25 1/4, up 1 3/4 cents,

Sep 25 MGEX Wheat  closed at $6.36, down 1/2 cent,