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Wheat futures lost 10 to 12 cents today. Trade estimates for the morning USDA weekly Export Sales report were in the 350,000 MT to 650,000 MT range. USDA put the actual number at only 314,500 MT, with Japan the largest buyer. Weekly export shipments were the largest of the marketing year, however. Export commitments (shipments plus outstanding sales) total 51% of the much reduced USDA forecast for the entire year. They are running ahead of the 49% average for this date. Strategie Grains in France raised projected EU wheat production another 2.8 MMT above USDA, to 153.8 MMT.
Dec 14 CBOT Wheat closed at $4.88 1/2, down 10 3/4 cents,
Dec 14 KCBT Wheat closed at $5.69 3/4, down 12 1/2 cents,
Dec 14 MGEX Wheat closed at $5.50 1/4, down 12 3/4 cents