Wheat futures are showing up on Monday with mostly higher trade across the three exchanges at midday. Chicago SRW futures are up 6 to 7 cents in the front months so far. Kansas City HRW contracts are trading with fractional to 2 cent gainst. MPLS spring wheat is showing midday gains of 5 to 7 cents.

After some flooding in parts of SRW country this last week, the 7-day forecast looks relatively dry for much of the country, with exception to parts of the East Coast and ECB.

Export Inspections data showed a total of 334,888 MT (12.3 mbu) of wheat shipped during the week of April 3. That was a drop of 33.12% from the previous week and down 35.2% from the same week last year. Mexico was the largest destination of 76,161 MT, with 60,797 MT to Japan, and 56,400 MT to the Philippines. Marketing year exports have totaled 17.69 MMT (650 mbu) since June 1, which is 15.1% above the same period last year. 

The Friday afternoon Commitment of Traders data from CFTC showed speculators in Chicago wheat adding 19,453 contracts to their net short as of Tuesday to 112,040 contracts. In KC, they were adding 225 contracts to that net short to 45,675 contracts by April 1.

May 25 CBOT Wheat  is at $5.35 1/2, up 6 1/2 cents,

Jul 25 CBOT Wheat  is at $5.49 1/2, up 6 3/4 cents,

May 25 KCBT Wheat  is at $5.58, up 1/2 cent,

Jul 25 KCBT Wheat  is at $5.72, up 2 cents,

May 25 MGEX Wheat  is at $5.90 3/4, up 6 1/4 cents,

Jul 25 MGEX Wheat  is at $6.05 1/2, up 5 3/4 cents,