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Wheat futures ended Friday trade mixed with HRW contracts lower, but the SRW and HRS contracts were higher. December HRS ended the week more than a dime higher, but HRW lost 6 cents and SRW lost nearly 3 cents. Two USDA reports containing key fundamentals for the wheat market were published Friday morning. The Small Grains Summary report had the latest official US production figures for each class, and the Grain Stocks showed how much wheat was in the country as of September 1. The trade was on average leaning towards larger HRW production, and slightly smaller SRW and HRS production, as well as a sizeable increase in the ending stocks estimate. The reports showed September 1 wheat stocks were 2.527 bbu, which was larger than the average trade guess, but below our estimate. Total wheat production was 2.309 bbu, combined winter wheat production was 1.67 bbu, other spring wheat production was 534 mbu, and Durum production was 104 mbu.
Dec 16 CBOT Wheat settled at $4.02, up 3 cents,
Dec 16 KCBT Wheat settled at $4.15 1/2, down 1 3/4 cents,
Dec 16 MGEX Wheat settled at $5.14 1/2, up 4 3/4 cents