The wheat complex is retreating across the three exchanges on Friday Chicago SRW futures are 6 to 7 cents lower in the nearbys on the day KC HRW futures are posting 6 to 12 cent losses in most contracts on the session.  MPLS spring wheat is down 1 to 2 cents in the front months on Friday.

Weekly Export Sales from Thursday has total export commitments at 24.67 MMT, which is 15% above the same time last year. That is 101% of the USDA export projection and near the 102% 5-year average.

IKAR estimates the Russian wheat crop at 90 MMT, a 1 MMT drop from their previous number. The French soft wheat crop was estimated at 83% Good/Excellent according to FranceArgiMer, a drop or 1 percentage point from the previous week. Saudi Arabia also issued a tender to buy 710,000 MT of wheat, with a deadline set for Friday.

May 26 CBOT Wheat  is at $6.04 1/2, down 6 1/4 cents,

Jul 26 CBOT Wheat  is at $6.13 3/4, down 6 1/2 cents,

May 26 KCBT Wheat  is at $6.60 1/4, down 6 1/2 cents,

Jul 26 KCBT Wheat  is at $6.67 1/2, down 11 3/4 cents,

May 26 MIAX Wheat  is at $6.72 3/4, down 1 3/4 cents,

Jul 26 MIAX Wheat  is at $6.89 1/2, down 2 cents,

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