Wheat futures are trading fractionally mixed this morning, excluding the soon to expire December contracts. The three markets finished Tuesday 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 out of a total of 154,694 MT in Australian, Canadian, and US wheat. Results are expected on Thursday. Russia’s IKAR is estimating the country will 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.

Market Commentary provided by:

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