Wheat

Wheat futures were steady to a penny higher in MPLS contracts on Thursday, with KC up 4 to 5 and CBT 6 to 7 cents in the green. The USDA reported all wheat export sales in the week of June 14 at 461,633 MT, on the higher end of expectations. That was 23.6% larger than the same week last year and a jump of 52.7% from a week ago. The Philippines purchased 137,000 MT, with Japan buying 118,500 MT. Weekly exports were up 37.71% from the week prior at 426,920, which was still 31,63% below the same week last year. In Japan's weekly MOA tender, they purchased 91,188 MT of combined US (65,943 MT) and Australian wheat on Thursday. Consultant Agritel is projecting Russia's 2018 wheat crop to drop to 67.4 MMT. That is on the lower end of most estimates, compared to the USDA's 68.5 MMT.

Jul 18 CBOT Wheat closed at $4.95 1/4, up 7 cents,

Jul 18 KCBT Wheat closed at $4.93 1/4, up 4 1/2 cents,

Jul 18 MGEX Wheat closed at $5.52 3/4, unch,




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