Wheat

Wheat futures are sharply higher in the CBT and KC contracts at Wednesday’s Midday, with the front months up 12 to 14 1/2 cents. MPLS is weaker, but still 3-5 cents higher. Forecasts for continued dryness in the Southern Plains are providing support. All wheat export sales are expected to be tallied at 200,000-500,000 MT in tomorrow’s USDA report. 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. Russian customs data shows that 33.026 MMT of wheat was exported during 2017, a jump of 30.4% from 2016.

Mar 18 CBOT Wheat is at $4.60 3/4, up 14 1/2 cents,

Mar 18 KCBT Wheat is at $4.81 1/4, up 12 1/4 cents,

Mar 18 MGEX Wheat is at $6.12 1/2, up 4 1/4 cents




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