The wheat complex is giving back some of the Tuesday gains, with contracts lower across the three markets. CBT soft red wheat futures are trading with 5 to 6 ¼ cent losses at midday. KC HRW futures are falling back 6 to 7 cents at midday. MPLS spring wheat futures are down 3 to 4 cents in the nearbys.
The weekly Export Sales report will be published on Thursday morning, as analysts are looking for between 300,000 MT and 650,000 MT in the week of 9/11.
A South Korean mill importer tendered to purchase 30,000 MT of US wheat, due on Thursday. French wheat ending stocks are estimated at 3.64 MMT according to FranceAgriMer, a 0.23 MMT drop from last month’s estimate. They also estimate exports outside of the EU at 7.85 MMT, up 0.35 MMT from the previous number.
Canadian wheat production according to Statistics Canada was estimated at 36.62 MMT, a 1.9% increase vs. last year and above the 35.55 MMT projected in August. Spring wheat output is seen up 0.3% vs. 2024 at 26.608 MMT, which is also 0.6 MMT above August.
Dec 25 CBOT Wheat is at $5.27 3/4, down 6 1/4 cents,
Mar 26 CBOT Wheat is at $5.46, down 5 3/4 cents,
Dec 25 KCBT Wheat is at $5.16 1/2, down 7 cents,
Mar 26 KCBT Wheat is at $5.38, down 6 1/4 cents,
Dec 25 MGEX Wheat is at $5.72 1/2, down 4 cents,
Mar 26 MGEX Wheat is at $5.93 1/2, down 3 1/4 cents,
