Wheat futures showed modest 6 to 8 cent gains in most contracts on Tuesday. World ending stocks are expected to see a slight reduction in Thursday’s USDA report, with the average trade guess 0.22 MMT below January at 267.8 MMT. On Tuesday, Taiwan purchased 77,200 MT of US wheat for March-April shipment. Japan is seeking 100,517 MT of wheat from Australia, Canada, and the US. The weekly MOA tender will close Thursday, with 33,442 MT sought from the US. Ethopia is seeking 400,000 MT of wheat, with the tender to close February 13.

Mar 18 CBOT Wheat closed at $4.46 1/4, up 6 cents,

Mar 18 KCBT Wheat closed at $4.69, up 7 1/4 cents,

Mar 18 MGEX Wheat closed at $6.08 1/4, up 6 1/2 cents

Market Commentary provided by:

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