Wheat prices are experiencing losses across the three major exchanges at midday on Wednesday, with Chicago SRW down 9 to 10 cents and KC HRW futures leading the decline at 11 to 12 cents lower. MPLS spring wheat also reports a decrease of 8 to 9 cents.
Rainfall of 1 to 2 inches is anticipated from the Texas panhandle to Kansas this week, potentially slowing winter wheat planting. Meanwhile, the USDA’s Export Sales report, scheduled for Thursday, is expected to show wheat bookings between 350,000 MT and 600,000 MT for the week ending September 17.
Additionally, the European Commission estimates EU wheat exports from July 1 to September 20 at 6.3 million metric tons (MMT), surpassing last year’s 6.19 MMT. Coceral reports a reduction in the UK and EU wheat crop estimates to 137.5 MMT, down by 3.3 MMT from previous forecasts.
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