Wheat

Wheat futures are steady to 4 1/2 cents higher in most contracts at midday. Sales of old crop wheat were reported at 112,265 MT this morning, exceeding most expectations. That was 78% larger than a week ago, but down 44.4% from a year ago. Japan purchased 96,870 MT of US and Canadian wheat in their weekly MOA tender on Thursday, with 63,735 MT US origin. Algeria also purchased wheat in a recent tender, totaling 700,000 MT of optional origin. Russia’s SovEcon trimmed their 18/19 wheat production estimate by 1.2 MMT to 77 MMT.

Jul 18 CBOT Wheat is at $5.35 1/2, up 4 1/2 cents,

Jul 18 KCBT Wheat is at $5.55 1/2, up 3 3/4 cents,

Jul 18 MGEX Wheat is at $6.43 1/2, up 1 1/2 cents




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