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Wheat futures settled mostly 3 to 5 cents higher. Egypt took advantage of the price decline to schedule a buying tender overnight. They (GASC) bought 235,000 MT of Russian, Romanian and Ukrainian wheat. No US wheat was offered. A Russian group called IKAR is projecting the crop there will be 56.3 MMT, well above year ago, as well as the USDA estimate of 53 MMT. Other sources doubt the crop is that large. Trade ideas for US weekly wheat export sales last week are in the 300-600,000 MT range.
Sep 14 CBOT Wheat closed at $5.30 3/4, up 6 1/4 cents,
Sep 14 KCBT Wheat closed at $6.23 1/2, up 2 1/4 cents,