Wheat
Wheat futures are mostly 3 to 4 cents higher this morning in the KC and CHI contracts, with MPLS spring wheat up 1 to 2 cents per bushel. They finished the Tuesday session with most KC and CHI contracts higher and nearby MPLS contracts steady. The US supply and demand table was left unchanged for 17/18, with production at 1.739 bbu, and ending stocks at 933 mbu. They are waiting on the September 29 Small Grains report for data. World wheat ending stocks for new crop was adjusted to 263.14 MMT, a 1.55 MMT drop from August. Russian production was increased 3.5 MMT to 81 MMT, while Australian and EU production ideas were reduced. Japan is seeking 139,382 MT of wheat from Australia, Canada and the US in their weekly MOA tender. It calls for 55,645 MT of US wheat, with results expected Thursday.



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