Wheat is showing mixed trade to start Wednesday trade. They posted some strength on Tuesday with contracts higher across the three exchanges. Chicago SRW futures were up 4 to 5 cents across the front months. KC HRW was heading higher, with gains of 4 to 6 cents in the nearbys. MPLS spring wheat is also pushing higher, with contracts up 3 cents in the front months.
Crop Progress data indicated spring wheat conditions up 1% to 73% gd/ex, as the Brugler500 index was unchanged at 379. Washington saw the largest improvement, up 19 points, with North Dakota down 6 and Minnesota down 3 points.
Japan has issued a tender for 81,442 MT of wheat from the US and Canada, with 53,562 MT US specific. EU exports of soft wheat have totaled 3.55 MMT for the marketing year from July 1 through August 18, down from the 4.53 MMT in the same period last year. SovEcon raised their Russian wheat production estimate by 0.4 MMT to 83.3 MMT on Tuesday.
Sep 24 CBOT Wheat closed at $5.33, up 4 3/4 cents, currently down 3 1/2 cents
Dec 24 CBOT Wheat closed at $5.56 1/2, up 4 1/4 cents, currently down 3 3/4 cents
Sep 24 KCBT Wheat closed at $5.46, up 5 1/4 cents, currently down 2 cents
Dec 24 KCBT Wheat closed at $5.61 1/4, up 4 3/4 cents, currently down 2 1/2 cents
Sep 24 MGEX Wheat closed at $5.90 1/4, up 3 cents, currently up 1 1/4 cents
Dec 24 MGEX Wheat closed at $6.06 1/2, up 3 cents, currently up 1/2 cents
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