Wheat posting fractional to 2 cent gains on Friday AM trade. The wheat complex held the weakness into the Thursday close. Chicago SRW futures were down 5 cents in the front months. Thursday’s Preliminary open interest was up 5,561 contracts. There were another 9 deliveries issued against May CBT wheat overnight. Kansas City HRW futures were 4 to 5 cents in the red on the day. Preliminary open interest was up 2,002 contracts on Thursday. Minneapolis spring wheat futures fell back 2 to 3 cents at the close.

The weekly Export Sales report from Thursday showed 69,659 MT of wheat sold in the week of 5/1. Mexico bought 37,300 MT. New crop sales exceeded the range estimates at 492,978 MT. That was a marketing year high for the 2025/26 marketing year and more than double the previous week. Unknown destinations purchased a total of 183,500 MT, with 100,800 MT sold to South Korea.

On Monday, USDA will release the first WASDE showing the 2025/26 balance sheets. Analysts expect to see old crop at 850 mbu, a 4 mbu increase, with new crop seen at 863 mbu.

Taiwan mill importers purchased 99,200 MT of wheat from the US overnight. Statistics Canada data from Thursday AM showed wheat stocks at the end of March totaling 15.421 MMT, down 1.2% from last year.

Jul 25 CBOT Wheat  closed at $5.29 1/4, down 5 cents, currently unch

Sep 25 CBOT Wheat  closed at $5.44, down 5 cents, currently up 1 cent

Jul 25 KCBT Wheat  closed at $5.24 3/4, down 4 3/4 cents, currently unch

Sep 25 KCBT Wheat  closed at $5.38 3/4, down 5 cents, currently up 3/4 cent

Jul 25 MGEX Wheat  closed at $6.00 3/4, down 2 1/4 cents, currently unch

Sep 25 MGEX Wheat  closed at $6.12 1/2, down 2 1/2 cents, currently up 1 1/4 cents