The wheat complex is trading with gains across the three exchanges on Friday. CBT soft red wheat futures are up 3 to 5 ¼ cents at on Friday. Preliminary open interest suggested some short covering on Friday, down 10,649 contracts. KC HRW futures are 2 to 4 ¾ cents in the green so far on Friday’s midday . There were 328 deliveries issued against September KC overnight. MPLS spring wheat is up 1 to 6 ½ cents, led by now in delivery September.

The next week is looking wet in much of the Southern Plains, with 1 to 3 inches in the forecast. The Northern Plains is looking a little drier in parts of ND, MT and the PNW, likely helping spring wheat harvest to move along.

The market will be closed on Monday due to the Labor Day holiday, with a normal open on Monday night for the Tuesday session. 

Thursday morning’s Export Sales report showed wheat sales (both shipped and unshipped) for the full marketing year at 12.152 MMT. That is 51% of the USDA projection and ahead of the 47% average sales pace. It is also the largest book of sales for this week since 2013/14.

Sep 25 CBOT Wheat  is at $5.15 1/2, up 5 1/4 cents,

Dec 25 CBOT Wheat  is at $5.32 1/4, up 3 1/4 cents,

Sep 25 KCBT Wheat  is at $4.91 1/2, up 4 3/4 cents,

Dec 25 KCBT Wheat  is at $5.18 1/4, up 2 1/2 cents,

Sep 25 MGEX Wheat  is at $5.61 3/4, up 6 1/2 cents,

Dec 25 MGEX Wheat  is at $5.78 3/4, up 1 1/2 cents,