The wheat complex fell across the three markets on Tuesday, as USDA found a few more bushels via the production number on Tuesday morning. CBT soft red wheat futures were down 10 to 12 cents. KC HRW futures were 10 to 11 cents in the red at the close. MPLS spring wheat futures were firmer, bur still posted 6 to 7 cent losses.
The USDA Small Grains Summary from this morning showed all wheat production tallied at 1.984 bbu, 63 mbu larger compared to the average trade guess at 1.921 bbu and 57 mbu above the August Crop Production report number. Winter wheat production was pegged at 1.402 bbu, 50 mbu larger than expected, with HRW at 804 mbu, SRW at 353 mbu, and white winter at 244 mbu. Spring wheat production was pegged at 497 mbu, with durum at 86 mbu.
