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Wheat futures settled lower in all markets on Wednesday afternoon. CHI wheat was down a penny to 11 cents, and KC dropped 5 to 11 cents, with the most weakness showing in the front months. MPLS was lower as well, but only a penny to 3 cents. The USD was 450 points higher at the time this was published, recovering nearly all of its losses on Tuesday. The weekly Export Sales report will be published by the USDA tomorrow morning. Trade estimates call for export sales of 250,000 MT to 520,000 MT during the week ending August 27. Reuters reports that high humidity levels have slowed Manitoban wheat harvest. Ag consultancy SovEcon states that Russian wheat prices have fallen $3/ton this week to $181.5/ton. Egypt has a tender for an unspecified amount of wheat to be delivered between October 11-20.
Sep 15 CBOT Wheat closed at $4.73, down 11 cents,
Sep 15 KCBT Wheat closed at $4.48, down 10 1/2 cents,
Sep 15 MGEX Wheat closed at $4.89 1/2, down 2 1/2 cents