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Wheat futures were 3 to 6 cents lower in CHI and KC on Thursday, but only 1 to 3 cents lower in MPLS, continuing the backwards drift in preparation for the WASDE report tomorrow morning. The Dow was up for the fifth consecutive day, closing above 17,000 for the first time since August 19. Wheat export sales totaled 293,100 MT during the week ending Oct 1, an increase of 280% from the week before but within trade expectations. Thailand (57,600 MT) was the largest buyer, followed closely by South Korea (53,500 MT) and the Philippines (36,700 MT). Accumulated exports are 17% smaller than they were at week 18 in 2014. Japan purchased 119,141 MT of wheat for November to December delivery, only 30,700 MT of which was US wheat. Egypt is tendering for wheat tonight, for November 11-20 delivery.
Dec 15 CBOT Wheat closed at $5.11 1/2, down 5 1/4 cents,
Dec 15 KCBT Wheat closed at $5.03 1/2, down 4 1/2 cents,
Dec 15 MGEX Wheat closed at $5.31, down 1 3/4 cents