The wheat complex posted higher trade across the three exchanges on Thursday. Chicago SRW futures were up 4 to 5 cents on the day. KC HRW contracts closed with 2 to 3 cent gains on the session. MPLS spring wheat was 2 to 3 cents higher at the close.

This morning’s Export Sales report showed a total of 433,560 MT for all wheat sales in the week that ended on October 3, in the top half of the 250,000 to 550,000 MT estimates. That was a slight drop from the week prior and well below the same week last year. Mexico was the top buyer of 101,400 MT, with the Philippines buying 60,000 MT.

USDA will release their monthly WASDE report on Friday, with the trade looking for all wheat ending stocks at 820 million bushels according to a Bloomberg poll of analysts. The range is between 788 to 846 mbu. World wheat ending stocks are projected to be down 1.3 MMT to 255.9 MMT. 

Japan purchased 115,050 MT of wheat on Thursday from the US, Canada, and Australia, with 56,690 MT from the US. A Russian deputy prime minister pegged the Russian wheat crop at 83 MMT, down 1 MMT from their previous estimate.

Dec 24 CBOT Wheat  closed at $6.03 3/4, up 4 3/4 cents,

Mar 25 CBOT Wheat  closed at $6.26 1/2, up 4 1/4 cents,

Dec 24 KCBT Wheat  closed at $6.11, up 2 1/4 cents,

Mar 25 KCBT Wheat  closed at $6.27 3/4, up 2 3/4 cents,

Dec 24 MGEX Wheat  closed at $6.50 1/4, up 2 cents,

Mar 25 MGEX Wheat  closed at $6.71, up 2 1/4 cents,