The wheat complex closed with Wednesday gains across most contracts in the three exchanges. CBT soft red wheat futures saw steady trade in nearby December, as other contracts were 2 to 3 cents higher. KC HRW futures were 1 to 2 ½ cents higher on Wednesday. MPLS spring wheat futures closed the session with contracts fractionally higher.
USDA is expected to release their WASDE this Friday despite the ongoing shutdown, with a Reuters survey showing analysts looking for US wheat stocks at 867 mbu, a 23 mbu increase from the September report, likely to include the increased production. World ending stocks are seen at 266.13 MMT, up 1.93 MMT from September is realized.
