Wheat

Wheat futures are showing fractional gains this morning, after most CBT and KC contracts were 2 to 4 1/4 cents lower on Tuesday. MPLS was down in the nearby contract but higher in the back months. Export inspections of wheat for the week that ended Jan 11 totaled 368,651 MT. That was a 56.73% improvement over the previous week but still 4.38% behind same week in 2017. Exports so far in the 17/18 MY are at 15.136 MMT, down 6.5% from the same time in the 16/17 MY. Japan is seeking 24,160 MT of US wheat in their weekly MOA tender, with a smallish total of 91,733 MT sought from Australia, Canada, and the US. Egypt’s GASC purchased 295,000 MT of Russian wheat on Tuesday.




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