Wheat

Wheat futures ended the Monday session with most contracts steady to 7 cents lower. Wheat inspections for export totaled 446,957 MT for the week of September 7, 53.74% larger than last week but 39.93% behind last year. The USDA Crop Progress report showed 95% of the spring wheat crop harvested, 8% above the average. Analysts are expecting the USDA will adjust the world wheat carry over slightly lower on Tuesday. They are currently projecting 264.3 MMT in 17/18 world ending stocks. Russian numbers are expected to be higher, with Australia lower. Australian 2017/18 wheat production was lowered to 21.6 MMT by the country’s ABARE agency.

Sep 17 CBOT Wheat closed at $4.12 1/4, down 1 1/2 cents,

Sep 17 KCBT Wheat closed at $4.09 1/4, down 6 1/4 cents,

Sep 17 MGEX Wheat closed at $6.26 1/4, down 4 cents




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