The wheat complex is showing mixed trade on Friday. Chicago SRW futures were down 3 ½ to 6 cents higher on the Friday session, with May 27 ¼ cents lower on the week. KC HRW futures were down ¾ to 3 cents on the day, with front month May the lone exception, up ¼ cent.  May fell 25 cents on the week. MPLS spring wheat was 3 ¼ to 6 ¾ ents lower on Friday, with May 35 ¼ cents in the red on the week. Crude oil was down $2.24 on the day, as risk was taken off the table ahead of the US/Iran talks this weekend.

Commitment of Traders data showed CBT wheat specs flipping back to a net short of 5,633 contracts by a move of 14,274 contracts in the week ending on April 7. In KC wheat, managed money was net long 15,608 contracts, a 5,909 contract reduction on the week. MPLS wheat spec funds extended their record net long by 205 contracts to 20,361 contracts.

Export Sales data from Thursday has export sales commitments at 24.441 MMT, a 13% increase yr/yr. That matches the USDA estimate and is in line with the average sales pace. Shipments are 20.379 MMT as of April 2, 18% above a year ago. That is 83% of the USDA forecast and ahead of the 83% average shipping pace.

May 26 CBOT Wheat  closed at $5.71, down 3 1/2 cents,

Jul 26 CBOT Wheat  closed at $5.80 3/4, down 4 1/4 cents,

May 26 KCBT Wheat  closed at $5.90 3/4, up 1/4 cent,

Jul 26 KCBT Wheat  closed at $6.05, down 3/4 cent,

May 26 MIAX Wheat  closed at $6.12 1/2, down 6 3/4 cents,

Jul 26 MIAX Wheat  closed at $6.27, down 6 3/4 cents,

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