Wheat futures are currently trading steady to 3 cents lower. - TopicsExpress

Wheat futures are currently trading steady to 3 cents lower. Egypt should now be covered for needs through November 1 following the purchase of 180,000 MT yesterday. The US has not been competitive vs. Romanian and Russian offers. USDA showed 53% of the spring wheat crop in North Dakota is harvested, which is well below the 5 yr average of 68%. Yields have been surprisingly high given the late planting. On the other hand, Idaho is currently 89% harvested compared to the 5 year average at 60%. A commercial re-delivered September futures rather than keep them, with 199 contracts put out in Chicago last night.

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