Wheat Market Mixed Ahead of Export Sales

Wheat futures are 2 to 3 cents higher in the Chicago and MPLS contracts this morning. KC HRW is trading about 1 cent per bushel lower. Chicago SRW wheat finished Wednesday with gains from 1/2 cent to 1 1/2 cents. HRW wheat finished lower by 3/4 to 3 cents. The biggest mover was HRS futures, which were lower by as much as 3 1/2 by Wednesday’s closing bell. The EU has raised their 2019/20 wheat crop production estimate to 147.0 MMT, up from their previous 145 MMT estimate. The EU also adjusted their wheat export expectations to 26 MMT. Analysts anticipate world ending stocks of 287.03 MMT from the USDA on Friday.

-- provided by Brugler Marketing & Management

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