Wheat Markets Modestly Higher Ahead of Break

Wheat futures contracts are mostly 2 to 3 cents higher this morning, with Minneapolis fractionally less than that. They ended Thursday’s trade session mixed, with nearby KC up 5 cents, CBT down 4 3/4 and MPLS 2 3/4 cents lower. The USDA Export sales report showed net sales of 462,224 for the week ending August 8, down 5.2% from last week and 42.4% lower than the same week last year. Japan purchased 106,700 MT, with South Korea at 106,200 MT. Egypt’s GASC purchased 295,000 MT of wheat Thursday, from Russia (175,000 MT) and Ukraine (120,000 MT). EU wheat production for 19/20 was raised by 2.3 MMT to 142.9 MMT on Thursday by Strategie Grains, with their export projection increased 2.9 to 24.8 MMT.




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