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Wheat futures ended the day 3 to 9 1/4 cents lower, with the KC market holding the firmest. Most contracts closed between 1 and 3 cents above their Thursday lows. The USDA showed export sales of 318,860 MT during the week ending April 28, down 60.5% from the elevated levels during the previous week. Old crop commitments as of last Thursday were 87.3% of the same time a year ago. The Kansas wheat tour estimates Kansas production to reach 382.4 million bushels this summer, with an average yield of 48.6 bu/ac. Projected production is up from the tour estimate of 288.5 million bushels in 2015, and the final 2015 USDA figure of 322 mbu.
Jul 16 CBOT Wheat settled at $4.63 1/4, down 8 cents,
Jul 16 KCBT Wheat settled at $4.52 3/4, down 5 cents,
Jul 16 MGEX Wheat settled at $5.31 3/4, down 9 1/4 cents