Wheat futures starts the Wednesday session of the short week with 9 to 14 cent losses. Weakness in corn is the primary influence. The wheat complex closed the Tuesday session mostly higher. Nearby SRW wheat prices closed down by 3 to 3 1/4 cents. The deferred contracts were up 1/2 to 2 3/4 cents at the close. HRW prices ended the session 3/4 to a penny higher. Spring wheat futures were also fractionally to 1 1/4 cents higher. USDA reported 276,898 MT of wheat exported on the week ending 1/14. That was down from 281,087 MT last week, and was 46% below the same week last year. Accumulated wheat exports were up to 15.569 MMT, compared to the 15.986 MMT pace set LY. Japan is tendering for 100k MT of wheat – 52k U.S. specific. Algeria is also in the market for 50k MT of wheat. Philippines issued a tender for 100k MT of optional origin feed wheat. EU wheat exports were reported at 13.99 MMT through Jan 17, compared to last season’s 16.73 MMT pace.
--- provided by Brugler Marketing & Management
