Wheat is starting off Wednesday trade with contracts down 5 to 11 cents. The wheat complex started off September with an extension of the rally. Chicago SRW contracts were up 4 ¼ to 9 3/4 cents on the day. Open interest was up 12,816 contracts on Tuesday. There were another 9 deliveries overnight against Sep CBT wheat. KC HRW futures were 1 ½ to 7 ¼ cents higher at the close. OI rose 3,495 contracts. There were 29 delivery notices for September KC wheat overnight. MPLS spring wheat 7 ¾ to 16 1/4 cents in the green at the final bell.
Overnight, Russia suspended the export duty on grain exports through the end of the year.
