Morning wheat markets are mixed into the StatsCan data. The Tuesday wheat market traded in plus territory after taking a back seat on report day. SRW futures ended 1 3/4 to 5 cents in the black – led by the deferred contracts. KC HRW futures closed with 5 1/4 to 6 3/4 cent gains in the front months. Spring wheat futures in Minneapolis were 1 1/4 to4 3/4 cents stronger at the bell.
Going into the StatsCan report traders expect wheat production to stay consistent with the August figure on average. Estimates range from 33.9 MMT to 34.9, but most folks are looking for 34.5 MMT later this morning. Durum output specifically is expected to be 270k MT lighter on average to 6.2 MMT.
Sep 22 CBOT Wheat closed at $8.42 3/4, up 1 1/2 cents, currently UNCH
Dec 22 CBOT Wheat closed at $8.60 1/2, up 1 3/4 cents, currently down 1 1/2 cents
Cash SRW Wheat was $7.94 5/8, up 1 1/8 cents,
Dec 22 KCBT Wheat closed at $9.33 3/4, up 6 3/4 cents, currently up 1 3/4 cents
Cash HRW Wheat was $8.91 3/4, up 7 cents,
Dec 22 MGEX Wheat closed at $9.31 1/4, up 4 3/4 cents, currently up 1/4 cent
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