Wheat futures fell lower into the close on Wednesday. Chicago SRW futures slipped back 1 to 2 cents into the final bell. Kansas City HRW futures posted weaker trade, with 7 to 9 cent losses on the day. Minneapolis spring wheat futures were down 7 to 8 cents at the close.
The next 7 days is looking on the drier side for much of the area from Texas through the Dakotas, with some lighter totals in parts of SRW country.
Ahead of the Export Sales report on Thursday morning, traders are looking for old crop wheat bookings to come in a range of net reductions of 100,000 MT and net sales of 150,000 MT. New crop sales is expected to see sales in a range of 200,000 and 400,000 MT in the week of May 1.
Wheat production data will be released in the Crop Production report on Monday, with all wheat production seen at 1.885 billion bushels. Winter wheat is seen at 1.325 bbu, with HRW at 748 mbu, SRW at 342 mbu, and white winter at 234 mbu.
May 25 CBOT Wheat closed at $5.18, down 1 cent,
Jul 25 CBOT Wheat closed at $5.34 1/4, down 1 3/4 cents,
May 25 KCBT Wheat closed at $5.17 1/2, down 7 1/4 cents,
Jul 25 KCBT Wheat closed at $5.29 1/2, down 8 1/2 cents,
May 25 MGEX Wheat closed at $6.16 1/2, unch,
Jul 25 MGEX Wheat closed at $6.03, down 7 1/2 cents,
