The wheat complex ignored USDA Grain Stocks report showing tighter stocks on Wednesday, posting losses across the three exchanges. Chicago SRW closed the day with contracts down 5 ½ to 17 cents to lead the weakness. KC HRW futures posted 4 to 10 cent losses on the session. MPLS spring wheat saw weakness of 6 to 7 cents at the close.
The NASS Small Grains Summary from this morning showed all wheat production at 1.534 bbu, which was up just 3 mbu from the August Crop Production report and slightly above trade estimates. HRW was tallied at 466 mbu, with SRW at 294 mbu, and white winter wheat at 259 mbu. Spring wheat was pegged at 449.5 mbu.
