The wheat complex fell lower on Friday, with contracts down in all three markets. Chicago SRW futures were down 5 to 6 cents on Friday, as March was 8 ¼ cents in the red at the close. KC HRW futures were down 7 to 8 cents in most contracts, as March fell 13 ½ cents this week. MPLS spring wheat was steady down 2 cents as March fell 8 ¼ cents for the week.

Export sales data has wheat export commitments at 21974 MMT, a 17% improvement over last year for the same week. That’s now 90% of the USDA forecast and slightly behind the average pace of 91%.

The USDA will release updated WASDE data on Tuesday, with a Bloomberg survey showing analysts averaging 918 mbu for US wheat stocks, down 8 mbu from January if held.

CFTC data showed a total of 12,988 contracts trimmed from the spec fund’s CBT wheat net short position. In KC wheat, managed money showed another 1,485 contracts trimmed from net short position to 8,844 contracts.

StatsCanada released stocks data for December 31 this morning, with total wheat stocks at 27.5 MMT, up 5.9% from the same time last year. Of this, wheat excluding durum was 22.15 MMT, 3.2% more than the previous year.

March 26 CBOT Wheat closed at $5.29 3/4, down 5 1/2 cents,

On May 26 CBOT Wheat closed at $5.39, down 5 cents,

March 26 KCBT Wheat closed at $5.31 1/4, down 7 1/4 cents,

On May 26, KCBT Wheat closed at $5.43 1/2, down 7 cents,

March 26 MIAX Wheat closed at $5.70, down 1 1/2 cents,

May 26 MIAX Wheat closed at $5.83 1/2, down 1 3/4 cents,

As of the date of publication, Austin Schroeder had no positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published on Barchart.com