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Wheat Jul '17 (ZWN17)

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24 minutes ago
Wheat futures are 1 to 2 cents higher in the SRW and HRW contracts this morning, and 3 to 4 cents higher in the MPLS spring wheat. MPLS was the strongest yesterday as well, 4 to 6 1/4 cents higher in the front months, with KC mostly fractionally higher. CHI was steady to 3 3/4 cents in the red. Some of the HRS area is seeing snow, with forecasts up to 8”. Some HRW acres as far south as central Kansas were expected to see sub-freezing temperatures. Overnight lows reached the upper 20’s in northern KS and down to the low 20’s in northern NE and the Dakotas. USDA Wheat export sales are thought to be 300,000-500,000 MT for old crop for the week of April 20, with US new crop sales ranging 50,000-250,000 MT. There is speculation that wheat production in Russia could drop as much as 8.5% to 67.1 MMT due to difficult conditions for winter wheat.
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