The wheat complex is showing fractionally mixed trade so far on Thursday. Wheat futures fell lower into the close on Wednesday. Chicago SRW futures slipped back 1 to 2 cents into the final bell. There were 29 deliveries issued against May CBT wheat overnight.  Kansas City HRW futures posted weaker trade, with 7 to 9 cent losses on the day. Preliminary open interest showed a rotation of ownership, up 272 contracts.  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 shortly this 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.

Taiwan mill importers purchased 99,200 MT of wheat from the US overnight. 

May 25 CBOT Wheat  closed at $5.18, down 1 cent, currently unch

Jul 25 CBOT Wheat  closed at $5.34 1/4, down 1 3/4 cents, currently down 1/4 cent

May 25 KCBT Wheat  closed at $5.17 1/2, down 7 1/4 cents, currently unch

Jul 25 KCBT Wheat  closed at $5.29 1/2, down 8 1/2 cents, currently up 1/2 cent

May 25 MGEX Wheat  closed at $6.16 1/2, unch, currently unch

Jul 25 MGEX Wheat  closed at $6.03, down 7 1/2 cents, currently up 1/2 cents