Wheat is down across the three exchanges on Thursday morning. The wheat market saw mixed action on Wednesday with contracts tallying in the winter wheats. CBT soft red wheat futures were up 4 to 6 cents at the close. Open interest was up 1,910 contracts.  KC HRW futures saw gains of 3 to 5 cents across most contracts. Some short covering was noted, with a drop in OI of 2,808 contracts. MPLS spring wheat futures closed the Wednesday session with contracts down a penny.

Overnight it was reported that China purchased a total of 120,000 MT of US wheat, with the 60,000 MT estimated tot be soft wheat and 60,000 MT spring wheat. Two separate tenders from South Korea saw 60,000 MT of optional origin purchases and a mill importer tendering for 50,000 MT of US wheat with a Friday deadline.

The next 7 days is looking for a relatively dry pattern across much of the country, with parts of the ECB with a little precip.

USDA’s Export Sales report will not be reported for the 6^th week in a row, as the government shutdown enters record length. Traders are still estimating that exporters sold between 250,000 and 650,000 MT wheat in the week of 10/30.

Dec 25 CBOT Wheat  closed at $5.54 3/4, up 4 1/2 cents, currently down 7 ½ cents

Mar 26 CBOT Wheat  closed at $5.68, up 5 1/4 cents, currently down 7 cents

Dec 25 KCBT Wheat  closed at $5.40, up 3 1/2 cents, currently down 7 ¾ cents

Mar 26 KCBT Wheat  closed at $5.53 1/2, up 4 1/2 cents, currently down 6 ¾ cents

Dec 25 MGEX Wheat  closed at $5.56 1/4, down 1 cent, currently down 2 cents

Mar 26 MGEX Wheat  closed at $5.74 1/4, down 1 cents, currently down 1 ¾ cents

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