Wheat futures are mostly 2 to 5 cents lower in the CBT and KC contracts on Thursday. MPLS is showing gains of 1 to 3 1/4 cents. The USDA showed all wheat old crop export sales for the week of 3/1 at 391,476 MT, within the range of expectations. That was well above last week and fairly even with this time last year. New crop sales were shown at 36,898 MT. US ending stocks for 17/18 wheat were tallied at 1.034 mbu by the USDA this morning. That 25 mbu addition was due to a reduction in exports. World ending stocks were pegged at 268.89 MMT, a 2.79 MMT jump from the February report. The US and India were the main culprits.

Mar 18 CBOT Wheat is at $4.95 1/2, up 2 1/2 cents,

Mar 18 KCBT Wheat is at $5.19, down 2 cents,

Mar 18 MGEX Wheat is at $6.23 1/4, up 3 1/4 cents

Market Commentary provided by:

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