In Chicago, SWR wheat for December was up 2 US cents to 523.50 US cents/bushel. In Kansas City, HRW wheat for December rose by 4.75 US cents to 514.75 US cents/bushel. Spring wheat in Minneapolis closed with minimal premiums, with December futures up 5.75 US cents for the week.
The weekly WASDE did not bring any surprises on the demand side, but did provide a small bullish signal: USDA analysts raised US wheat exports by 25 million bushels to 900 million. Ending stocks fell accordingly to 844 million bushels.
Despite this positive impetus, global sentiment remained subdued. Global ending stocks increased by 3.98 million tons to 264.06 million tons. This was due to larger harvests in Australia, the EU, Russia, Canada and Ukraine.
On Euronext, December gained €0.25 to €189.75 per tonne.
