Wheat is mixed across the three exchanges on Monday. The wheat complex faced pressure across the three markets heading into the weekend. Chicago SRW contracts saw 8 ¼ to 16 ¼ cent losses across the board, with December slipping 6 ½ cents on the week. Open interest was up 2,801 contracts on Friday. KC HRW futures saw weakness, with contracts 10 to 20 ¼ cents lower, as December was down 8 ¾ cents since last Friday. OI was up 2,202 contracts. MPLS spring wheat was under pressure, with contracts 12 ½ to 20 ¼ cents in the red and December steady for the week. September futures expire today.
As expected this month, USDA left the US production estimate alone, as they wait for the Small Grains Summary on September 30. The rest of the US balance sheet was left unchanged, as US carryout was steady at 717 mbu.
