The three wheat markets are heading lower so far on Thursday, with the US dollar index hitting a 1 year high. Chicago SRW futures are down 1 to 2 cents across the nearbys. KC HRW contracts are closing with losses of 5 to 6 cents at midday. MPLS spring wheat is down 3 to 4 cents as the market trades through the Thursday session.

Export Sales data released this morning showed all wheat sales totaling 549,601 MT in the week that ended on November 14. That was on the high end of the 275,000 and 600,000 MT estimates and up 9.42% from the week prior.  The largest buyer on the week was South Korea at 200,100 MT, with Mexico 91,000 MT.

Taiwan purchased 80,000 MT of US wheat in their tender overnight. 

International Grains Council data released this morning showed wheat production for the world estimated down 2 MMT to 796 MMT. Consumption was up 1 MMT, with stocks down 3 MMT for the world at 263 MMT.

Dec 24 CBOT Wheat  is at $5.50 3/4, down 1 3/4 cents,

Mar 25 CBOT Wheat  is at $5.70 3/4, down 1 1/2 cents,

Dec 24 KCBT Wheat  is at $5.55 3/4, down 6 cents,

Mar 25 KCBT Wheat  is at $5.67 1/4, down 5 1/2 cents,

Dec 24 MGEX Wheat  is at $5.88 1/2, down 3 1/2 cents,

Mar 25 MGEX Wheat  is at $6.03 1/2, down 3 3/4 cents,