Wheat

Wheat futures are currently fractionally lower in the SRW and HRW contracts, but 2 cents higher in the MPLS spring wheat. The front KC and CBT months were down 2 to 2 1/2 cents, with MPLS steady to 1 1/2 cents lower. All wheat export inspections for the week that ended on December 21 totaled 493,550 MT. That was 21.03% lower than the week prior and was 8.71% behind this time in 2016. Since June 1, export inspections have hit 14.23 MMT. That is 5.96% behind 16/17. Import data from China shows the country’s wheat imports during November totaled 155,817 MMT, well above the same month last year. China’s Jan-Nov wheat imports have totaled 4.115 MMT, 30.6% larger than 2016. Canada and Australia were the main origins for the Chinese imports. Egypt’s GASC is seeking wheat for early February delivery, with results expected later today.




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