Morning Wheat Recap 8/10
Wheat market stronger all da as the rally in the corn/beans and pre-report positioning were the theme for the day.
Export sales out this morning at 665k mt up 29% from last week and up 49% from the 4 week average, trade guess was for 400-675k mt, last year was 376k mt for the same week so on the high side of the trade guess and above last year, breakdown was HRW 284k mt, SRW 66k mt, HRS 165k mt SWW 120k mt and durum at 30k mt, Nigeria biggest buyer followed by S. Korea and Japan, no unusual buyers this week, lifting’s were at 596k mt for the week Nigeria again the biggest on the report, pace of sales lagging USDA estimate.
