Wheat Weaker on Wednesday

Wheat futures weren’t able to hold the overnight gains, with contracts retreating into the close. CBT SRW contracts were down 19 to 22 ¾ cents, with KC HRW 15 ¾ to 20 ¾ cents in the red. MPLS was also weaker, as contracts were down 15 to 19 ¼ cents.

Analysts surveyed by Reuters expect the FAS to tally wheat export sales in a range of 250,000 to 650,000 MT in the week that ended on 8/11. Last week’s sales were 359,165 MT

India’s ag ministry raised the country’s wheat production number by 0.43 MMT to 106.84 MMT on Wednesday. For comparison, USDA is at 103 MMT. An additional 4 vessels left Ukrainian ports, taking the total since the first of August to 24.

Sep 22 CBOT Wheat  closed at $7.63 1/4, down 22 3/4 cents,

Dec 22 CBOT Wheat  closed at $7.80 1/2, down 22 1/4 cents,

Cash SRW Wheat  was $7.05 1/2, down 27 3/8 cents,

Sep 22 KCBT Wheat  closed at $8.51, down 20 3/4 cents,

Cash HRW Wheat  was $8.05 3/4, down 21 1/4 cents,

Sep 22 MGEX Wheat  closed at $8.83 1/2, down 19 1/4 cents,