The wheat market closed Wednesday with mixed action across the three exchanges. Kansas City led the way lower, with contracts down 3 to 10 ¼ cents and May up ¾.  Chicago contracts were down 1 ½ to 4 cents across the nearbys and up fractionally to 2 ½ cents in the deferreds. MPLS spring wheat was mixed, with front months down 2 to 3 and back months up 1 to 4 ¾ cents. 

The 7-day QPF from NOAA shows some precip making its way further into some western portions of the Plains that have thus far remained dry. 

This 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. 

The weekly Export Sales report will be release on Thursday morning, with traders expecting a range of net reductions of 100,000 MT to net sales fo 100,000 MT for old crop. In the week that ended on 4/25, new crop sales are estimated in a range of 200,000 to 600,000 MT. 

May 24 CBOT Wheat  closed at $5.81 1/2, down 3 1/2 cents,

Jul 24 CBOT Wheat  closed at $5.99 1/4, down 4 cents,

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

Jul 24 KCBT Wheat  closed at $6.25, down 10 1/4 cents,

Jul 24 MGEX Wheat  closed at $7.02 1/4, down 2 cents,