Wheat prices are higher to kick off your Friday morning. Futures were mixed on Thursday, with the winter wheat exchanges providing the weakness and spring wheat some strength. Chicago futures were down 2 ¾ to 4 cents across the board. MPLS spring wheat led the way higher, up 3 ¼ to 8 ¾ cents. Kansas City contracts were in the middle with front months up ¾ to 1 ¾ cents and deferreds fractionally lower.

The weekly Export Sales report from FAS showed a total of 578,502 MT of wheat during the week of July 11. That was on the high end of the 225,000 to 600,000 MT range of estimates and more than double the week prior. South Korea bought 119,000 MT, with Mexico 92,700 MT in sales.

An updated look at the balance sheet from the International Grains Council projections shows the world wheat production up 8 MMT mo/mo at 801 MMT, with stocks expected to rise a similar amount to 269 MMT. Chinese Customs data showed 1.2 MMT of wheat imports during June from all origins, a sizeable 44% increase vs. the previous year. Their calendar year to date imports are up 16% at a reported 9.3 MMT. 

Sep 24 CBOT Wheat  closed at $5.35 1/4, down 4 cents, currently up 8 3/4 cents

Dec 24 CBOT Wheat  closed at $5.60, down 3 1/2 cents, currently up 9 cents

Sep 24 KCBT Wheat  closed at $5.62 3/4, up 1 3/4 cents, currently up 6 1/4 cents

Dec 24 KCBT Wheat  closed at $5.79, up 1 1/2 cents, currently up 6 cents

Sep 24 MGEX Wheat  closed at $6.00 1/2, up 8 3/4 cents, currently up 8 cents

Dec 24 MGEX Wheat  closed at $6.20 1/4, up 8 3/4 cents, currently up 8cents