The wheat futures are still under pressure, with KC the weakest with 5 to 7 cent losses at midday. Chicago and MPLS are down 2 to 5 cents per bushel, but the spreads are behaving differently.Â
Deliveries against CBT Dec wheat slowed to 98 contracts overnight, with Dreyfus continuing to hang on to receipts they receive.Â
US wheat exports were 1.384 MMT in October, according to official Census numbers. That was up 11% vs. October 2021. Â They were also 256,000 MT larger than previously reported inspections.Â
Analysts surveyed ahead of the monthly WASDE report show an average trade estimate of 581.3 mbu wheat carryout. That would be a 10.3 mbu increase from November if realized. The full range is to see between 551 and 602 mbu.Â
China sold 39,709 MT of wheat from state reserves on 11/30. That was 100% of the quantity tendered on an average price of 2,797 yuan ($401.35) per MT.  That’s $10.92 per bushel.Â
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| Dec 22 CBOT Wheat | is at $7.11 1/2, down 4 cents, |
| Mar 23 CBOT Wheat | is at $7.32 3/4, down 6 1/4 cents, |
| Cash SRW Wheat | is at $6.65 1/2, down 1 7/8 cents, |
| Dec 22 KCBT Wheat | is at $8.49 1/2, down 5 1/4 cents, |
| Cash HRW Wheat | is at $7.96 1/1, down 11 1/8 cents, |
| Dec 22 MGEX Wheat | is at $9.12 3/4, down 27 cents, |
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