Wheat futures settled with 4 to 5 cent gains in the HRW and HRS contracts on Wednesday, with SRW fractionally higher. Rains in the Northern Plains this week could potentially slow the already delayed spring wheat planting progress. Ahead of Thursday’s weekly Export Sales report, analysts are expecting to see 0-200,000 MT in old crop sales for the week that ended May 10. There are only 3 more reporting weeks for the 17/18 MY, with new crop sales projected at 100,000-300,000 MT. Taiwan purchased 83,350 MT of US wheat in a tender on Wednesday, with shipment in July/August.

Jul 18 CBOT Wheat closed at $4.94 1/4, up 3/4 cent,

Jul 18 KCBT Wheat closed at $5.14, up 4 1/4 cents,

Jul 18 MGEX Wheat closed at $6.11 1/4, up 5 cents

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