Wheat posted Wednesday losses across the three markets. Chicago SRW futures were down 6 to 8 cents at the final bell. Kansas City HRW contracts were 8 to 9 cents lower at the close. MPLS spring wheat closed the Wednesday session with contracts down 3 to cents.
The next few days shows precipitation across much of the US, with much of the area from the Rockies to the Appalachians expecting at least an inch. Heavier total are seen in eastern KS, OK, and western MO.
Export Sales data will be released on Thursday morning, with the trade looking for old crop wheat sales to total between net reductions of 150,000 MT and net sales of 200,000 MT in the week of April 17. Sales for new crop are expected to total 100,000 to 300,000 MT in that week.
Overnight, South Korean mills purchased 50,000 MT of wheat from the US.
May 25 CBOT Wheat closed at $5.28 1/4, down 7 1/4 cents,
Jul 25 CBOT Wheat closed at $5.43 1/2, down 6 3/4 cents,
May 25 KCBT Wheat closed at $5.37 3/4, down 8 1/4 cents,
Jul 25 KCBT Wheat closed at $5.50 1/4, down 8 cents,
May 25 MGEX Wheat closed at $5.91 1/2, down 4 cents,
Jul 25 MGEX Wheat closed at $6.07, down 3 1/4 cents,
