Wheat futures are mostly 3/4 to 2 cents per bushel lower this morning. They closed Wednesday with most contracts 1 1/2 to 3 1/2 cents higher. This morning’s USDA Export Sales report is expected to show old crop wheat sales pick up for the week of Jan 4 to 250,000-450,000 MT. Last week’s marketing year low (MY low) sales totaled just 130,963 MT. December 1 wheat stocks are expected to be shown at 1.849 billion bushels this Friday, nearly 11% lower than the same time last year. The USDA is seen reducing world ending stocks slightly to 268.1 MMT.

Market Commentary provided by:

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