Wheat

Wheat futures are trading 7 to 10 cents higher ahead of the weekly USDA Export Sales report. They 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. Traders are expecting USDA to show 0-200,000 MT in old crop export sales for the week that ended May 10. There are only 3 more reporting weeks for the 17/18 MY, with weekly 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. Those will be in next week’s report.




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