Wheat

Wheat futures finished the day with most contracts 3 to 5 3/4 cents lower, as the US dollar was nearly 275 points higher at the wheat close. Japan is seeking 64,495 MT of US wheat in their weekly tender that is looking to purchase 154,694 MT in Australian, Canadian, and US wheat. That tender will close on Thursday. Russia’s IKAR is estimating the country to export 35.3 MMT of wheat in 2017/18, 1.3 MMT higher than their previous estimate. Argentina’s wheat production is estimated at 18 MMT according to Informa analysts, up 0.3 MMT. They are also expecting the Australian production number 1.3 MMT lower than their previous projection at 20.3 MMT.

Dec 17 CBOT Wheat closed at $4.06, down 4 1/4 cents,

Dec 17 KCBT Wheat closed at $4.14 1/4, down 5 3/4 cents,

Dec 17 MGEX Wheat closed at $6.09, down 5 cents




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