The wheat market is trying to hold some gains at midday. Kansas city is steady to 3 cents higher.  There were again zero deliveries vs. KC HRW, with the oldest long subject to delivery now dated 12/6/23. Chicago contracts are down fractionally to a penny There were 211 deliveries against May CBT wheat overnight, with Dorman listed as the stopper for 138.  MPLS is trading with contracts steady to 6 cents higher at midday.

The weekly Export Sales report showed a net reduction of 20,298 MT of wheat sales in the week of 4/25, mainly driven by cancellations for HRW and SRW. For the week that ended on April 25, new crop sales were in the middle of the trade range of estimates at 406,911 MT. The top buyer was Taiwan at 106,700 MT, with unknown buying 95,000 MT.

Export Data released by Census this morning indicated 2.09 MMT (77.1 mbu) of wheat shipped in March, an 18-month high 3-year high for March. That took the 10-month total for the MY to 569 mbu (584 mbu including products).

Tuesday afternoon’s Flour Milling report showed first quarter wheat grind at 226.55 mbu during Jan-March. That was 1 mbu above the same period last year. 

May 24 CBOT Wheat  is at $5.80 3/4, down 3/4 cent,

Jul 24 CBOT Wheat  is at $5.98 1/2, down 3/4 cent,

May 24 KCBT Wheat  is at $6.25 1/2, up 2 3/4 cents,

Jul 24 KCBT Wheat  is at $6.27 1/2, up 2 1/2 cents,

Jul 24 MGEX Wheat  is at $7.07 3/4, up 5 1/2 cents,