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Wheat futures are trading 6 to 8 cents higher at midday. Traders were anticipating very low Export Sales numbers from USDA, with the pre-report guesses ranging from 280,000 MT to 500,000 MT. The actual number this morning was neutral at 361,700 MT. Egypt did buy a cargo of wheat overnight, but it was not US origin. Satellite firm Lanworth projected winter wheat plantings in the US will total only 40.79 million acres. Other consulting firm estimates have been in excess of 42 million. Japan bought 72,600 MT of US wheat for December through February delivery at the weekly MOA tender.
Dec 14 CBOT Wheat is at $5.44 1/2, up 6 3/4 cents,