Wheat prices are mixed across the three exchanges in early Wednesday futures action.  Wheat futures were lower yesterday in a Turnaround Tuesday performance, fading gains from Monday. Chicago SRW futures settled 4 ¼ to 5 ¼ lower.  Kansas City HRW contracts were down 4 to 5 cents at the close.  MPLS spring wheat settled mostly 7 ¼ to 7 ½ cents lower than where it was on Monday evening. 

The Wheat Quality Council spring wheat and durum crop tour is underway in North Dakota and a tier of counties in South Dakota. The Day 1 tour average yield was 52.3 bpa, compared to 48.3 bpa a year ago.  The tour continues today, and wraps up on Thursday in Fargo. 

AAFC (Canada) in confirming WASDE’s estimate for wheat production, releasing a 35.43 MMT number this week.  USDA was at 35 MMT in the July 12 WASDE report. A group called the Grains Industry Association of Western Australia increased projected grain production for that state to 18 MMT from 16.3 MMT. Of that, 10.5 MMT would be wheat. 

Sep 24 CBOT Wheat  closed at $5.42 3/4, down 5 1/4 cents, currently up ½ cents

Dec 24 CBOT Wheat  closed at $5.67 3/4, down 5 1/4 cents, currently up ¼ cents

Sep 24 KCBT Wheat  closed at $5.66 3/4, down 5 cents, currently down 3 ¼ cents

Dec 24 KCBT Wheat  closed at $5.83 1/4, down 4 3/4 cents, currently down 2 ½ cents

Sep 24 MGEX Wheat  closed at $6.15 1/2, down 7 1/4 cents, currently down 3 ¼ cents

Dec 24 MGEX Wheat  closed at $6.33, down 7 1/4 cents, currently down 4 cents


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