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Wheat futures finished trading with most contracts showing double digit losses, and marking new lows for the move. HRW futures hit their lowest price for a front month since early May. The spring wheat tour is underway, and Minnesota and the Dakotas are reporting some of the best yields in 21 years. The Wheat Quality Council had a first average yield for 166 HRS fields at 51.1 bpa, up from the 2014 figures of 48.3 bpa, and the five year average of 43.4 bpa. The official tour estimate is expected to be out on Thursday. USDA will publish its weekly export sales report in the morning, with published trade expectations between 350,000 MT and 620,000 MT.
Sep 15 CBOT Wheat closed at $4.96 1/4, down 14 1/2 cents,
Sep 15 KCBT Wheat closed at $4.95 1/4, down 9 1/2 cents,
Sep 15 MGEX Wheat closed at $5.29 1/2, down 10 3/4 cents