Wheat is showing gains across most contracts early on Friday. The wheat complex fell back lower on Thursday, closing with weakness across all three markets. CBT soft red wheat futures were down 3 to 4 cents on the day. KC HRW futures posted 2 to 2 ½ cent losses in the front months on Thursday. Preliminary open interest was up 8,739 contracts on Thursday. MPLS spring wheat was down 3 to 4 cents on the session.

Export Sales data from USDA this morning indicated sales backing off slightly from last week to 722,846 MT, though that was still on the higher side estimates. That was the second largest for the marketing year only behind last week and more than double the same week last year. The largest buyer was South Korea at 130,000 MT, with 114,900 MT sold to Mexico.

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A South Korean importer purchased 50,000 MT of US wheat in their tender overnight.

Sep 25 CBOT Wheat  closed at $5.03 1/2, down 3 3/4 cents, currently up 2 3/4 cents

Dec 25 CBOT Wheat  closed at $5.24 1/2, down 3 3/4 cents, currently up 1 1/2 cents

Sep 25 KCBT Wheat  closed at $5.04 1/4, down 2 1/2 cents, currently up 2 3/4 cents

Dec 25 KCBT Wheat  closed at $5.26, down 2 cents, currently up 1 3/4 cents

Sep 25 MGEX Wheat  closed at $5.73 1/4, down 3 3/4 cents, currently unch

Dec 25 MGEX Wheat  closed at $5.92 1/4, down 3 3/4 cents, currently up 1/4 cents

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com