Wheat

Wheat futures are fractionally mixed in all three markets this morning. They settled with fractional to 2 1/4 cent losses in most CBT contracts yesterday, as KC was down 2 to 4 1/4 cents. MPLS was steady to 4 3/4 cents higher in most contracts as the spreads corrected. Analysts are expecting to see the old crop US ending stocks number slightly higher at 1.015 bbu in Thursday’s USDA WASDE report. Egypt’s GASC purchased 175,000 MT of Russian wheat in this morning’s tende for mid April delivery. Prices were a little lower than some sources had predicted. Taiwan is seeking 92,465 MT of US wheat for April/May delivery, with the tender to close March 13.




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