The wheat complex is trading with losses across all three markets. Chicago SRW futures are 2 to 3 cents lower. KC HRW futures are 7 to 8 cents in the red at midday. MPLS spring wheat are down 3 to 4 cents on the session.
Crude oil is up just 27 cents at midday, as reports of a US/Iran ceasefire extension are pulling the market off the highs.
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USDA will release Export Sales data on Friday, due to the Monday holiday. Analysts are looking for old crop wheat sales to be 0 to 250,000 MT in the week of 5/21, with new crop seen 100,000-300,000 MT.
Jul 26 CBOT Wheat closed at $6.20 1/2, down 2 cents,
Sep 26 CBOT Wheat closed at $6.33 3/4, down 2 cents,
Jul 26 KCBT Wheat closed at $6.62 1/4, down 7 1/2 cents,
Sep 26 KCBT Wheat closed at $6.74, down 7 1/2 cents,
Jul 26 MIAX Wheat closed at $6.78 1/2, down 3 1/4 cents,
Sep 26 MIAX Wheat closed at $7.02 1/4, down 3 cents,
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