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Wheat futures are currently trading 1 to 4 cents higher, after settling mostly 5 to 7 cents lower on Friday. USDA is expected to adopt the Canadian production hike from Stats Canada on Friday, offsetting most of the reduction in the US crop. Egypt purchased 175,000 MT of Russian and 60,000 MT of Ukrainian wheat over the weekend, for an average of $199.72/ton. Delivery is expected from November 1-10. Just over 557,000 MT of US wheat was inspected for export during the week ending 10/1, according to the USDA, 12% less than a week ago. YTD inspections are 1.55 MMT (56 millinon bushels) smaller than 2014 at this time.
Dec 15 CBOT Wheat is at $5.14 3/4, up 1 1/2 cents,