The wheat complex posted gains across the three exchanges on Wednesday. Chicago SRW futures were up 2 ¾ to 5 cents at the close. KC HRW was a penny to 4 ¼ cents higher across the board. MPLS spring wheat was 5 to 6 ½ cents in the green on the day.

Export Sales data will be released on Thursday morning, with the trade looking for between 300,000 to 550,000 MT of all wheat sales in the week that ended on 9/5.

There are some concerns about crops in the Kursk region in Russian being harvested due to the fighting between Russian and Ukrainian forces.

Wheat production data will likely remain unchanged this month, as USDA waits for the Small Grains Summary report due at the end of the month. However, the WAOB will update the demand side of the balance sheets with any adjustments they deem necessary. The average of analysts surveyed by Bloomberg shows a slight 6 mbu cut to 822 mbu for US wheat ending stocks. World ending stocks are projected to be cut by 1.2 MMT to 255.4 MMT. 

Sep 24 CBOT Wheat  closed at $5.63 3/4, up 5 cents,

Dec 24 CBOT Wheat  closed at $5.79 1/4, up 5 cents,

Sep 24 KCBT Wheat  closed at $5.80 3/4, up 1 cent,

Dec 24 KCBT Wheat  closed at $5.88 1/4, up 4 1/4 cents,

Sep 24 MGEX Wheat  closed at $5.89, up 10 cents,

Dec 24 MGEX Wheat  closed at $6.16 1/2, up 6 1/2 cents,