Wheat futures are 2 to 5 cents higher this morning, with MPLS spring wheat the strongest. Since Wednesday’s mixed close, with Chicago wheat futures steady to fractionally higher in most contracts. Kansas City contracts saw 1-3 cent gains, as Spring wheat futures contracts saw losses at Wednesday’s close. Trade estimates prior to USDA’s monthly update would have World wheat carryout trimmed by 1.34 MMT to 285.17 MMT on average. Analysts are expecting a total of 300,000-600,000 MT in US wheat export sales for the week that ended on October 3. Japan’s MOA is seeking a total of 114,012 MT from the US and Canada, with 60,052 MT US origin. Results are expected later this morning. .
--provided by Brugler Marketing & Management