Wheat export inspections were at 16.493 million bushels for the week ending April 19. Wheat export inspections continue below levels needed for support. Early in the week indications of damaged wheat in Kansas fueled price improvement in hard red winter wheat which also carried over to a lesser amount in the soft red winter wheat market. Other reports should also be coming weekly as wheat tours are starting and other reports will be made. The spread in futures prices between soft red winter wheat and hard red winter wheat was 58 cents for the May futures contracts in favor of hard red winter wheat.
Wheat still needs to do better in the export market.
A significant decline in either crop would decrease ending stocks and be additionally supportive to wheat prices. The opposite, of course, would be negative for wheat prices.