Wheat futures are trading 5 to 7 cents lower in the CHI and KC contracts this morning as some light snow moves into the Plains. Spring wheat futures in MPLS are 1-2 cents higher as they spreads rebound from Friday’s push in the other direction. Wheat settled with losses of 3-5 cents in most CBT and KC contracts on Friday, while MPLS was down 8 in the March contract. Nearby March KC was 4.57% higher from Friday to Friday, with weakness in the later part of the week limiting gains. Pressure was felt from a stronger US dollar, up 523 points on the day. Analysts are expecting this morning’s Stats Canada report to show 23.9 MMT in all wheat stocks as of Dec 31, slightly lower than last year’s 24.1 MMT. Russia’s IKAR is projection the Russian exports during 18/19 will total 32-36 MMT, as total production is seen at a wide range of 73-82 MMT.

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