Traders were busy squaring up ahead of the month end on Friday, as the three wheat exchanges were mostly higher. CBT soft red wheat futures were up 4 to 8 cents across the front months. KC HRW futures were 1 to 3 cents higher on the day. MPLS spring wheat was up fractionally to 4 ¼ cents in the September contract. Friday is first notice day.
This morning’s Export Sales report showed wheat sales of 579,794 MT in the week ending on August 21, and in the middle of the trade estimates of 400,000 MT to 700,000 MT. That was a 11.55% jump from last week. The largest buyer was Vietnam of 156,800 MT, with 106,000 MT sold to Nigeria and Mexico buying 94,200 MT. There was 139,600 MT reported in net cancellations for unknown destinations mainly switched to a destination.
