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Wheat mini-sized (P) Futures PricesWednesday, May 23rd, 2012Current Prices | End-of-Day Prices | Options Quotes | Spread Quotes | Profile
Wheat settled mostly 12 to 17 lower in Chicago. A consulting group lowered projected Russian wheat production to 53 MMT. USDA was at 56 MMT in the May report. The same group lowered projected Russian exports to 14 MMT vs. the current USDA number of 18 MMT. Rain entered the extended forecast for some of the troubled areas in the Great Plains and also in Russia. Traders still expect the beginning of harvest in the largest state (Kansas) to put pressure on the cash market, unless we see more lower-than-expected yields coming in. Traders are looking for USDA to report combined old and new crop export sales for last week at 330,000-550,000 MT. Jul 12 CBOT Wheat closed at $6.65 1/2, down 20 cents,
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