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Wheat futures are UNCH to 1 cent higher this morning. They finished Wednesday 2 to 5 cents lower in most CBT and KC contracts, while MPLS was slightly higher. Wednesday morning’s USDA announcements also included a private export sale of 104,200 MT of HRW to Mexico for 17/18 delivery. The USDA reported KS planting progress was only 27% complete, with OK 20% below their average. Most SRW states were ahead of their average pace. Traders are estimating the USDA will lower the world wheat ending stocks number by 0.34 MMT to 262.8 MMT in Thursday’s monthly report.
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