The wheat complex is showing some slight gains to round out the week. CBT soft red wheat futures is 3 to 4 cents in the green at midday. The CBOT showed another 3 deliveries issued for September wheat overnight. KC HRW futures are up 2 to 5 cents across the front months on Friday. There were 8 deliveries against Sep KC wheat overnight. MPLS spring wheat is showing firmer trade, with contracts up 1 ¼ to 2 cents, as thinly traded September is down 4 cents.
USDA’s Export Sales report from this morning showed a total of just 312,978 MT of wheat sold in the week of August 28, below traders estimates of 350,000 to 700,000 MT. That was the second lowest for the marketing year. USD FOB prices had been competitive on the world market have recently become closer to some major competition via the French and Russian FOB prices.
