The wheat complex is trading with contract rallying on Friday across the three markets. Chicago SRW contracts are trading 11 to 12 ½ cent gains at midday. KC HRW futures are 16 to 18 cents hihger so far on Friday. MPLS spring wheat is showing 11 to 12 cents higher as the market heads into the weekend.
NASS will release updated production data for wheat on Wednesday via the monthly Crop Production report, with analysts surveyed by Reuters looking for 1.525 bbu of wheat, an `11 mbu cut from July if realized. Winter wheat is seen down 9 mbu to 981 mbu, with spring wheat expected to slip 7 mbu to 468 mbu.
