Wheat

Wheat futures were 5 to 9 cents lower in most contracts on Wednesday. A few forecasts are showing rain chances across the Southern Plains in the next couple weeks. The 7-day QPF is dry. Analysts are expecting world ending stocks at 265.63 MMT in Thursday’s March WASDE, down a slight 0.47 MMT. The USDA Export Sales report will also be released on Thursday at 7:30 AM CST, with trade estimates running 200,000-500,000 MT for old crop. Last week’s report showed sales of just 191,122 MT. New crop estimates are at 0-100,000 MT.

Mar 18 CBOT Wheat closed at $4.93, down 9 cents,

Mar 18 KCBT Wheat closed at $5.21, down 8 1/4 cents,

Mar 18 MGEX Wheat closed at $6.20, down 7 1/4 cents




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