Wheat futures settled the Thursday session with most CBT and KC contracts 3 to 6 1/2 cents in the red, as MPLS was fractionally to 1 cents higher. All wheat old crop export sales were reported in the range of expectations this morning at 393,437 MT in this morning’s Export Sales report. That was 24.7% lower than the same time last year but 36.1% larger than last week. US ending stocks were raised 20 mbu by the USDA this morning to 1.009 bbu. That came from a 25 mbu reduction to US exports and a 5 mbu increase in food use. Meanwhile, world ending stocks were cut 1.92 to 266.1 MMT, on larger domestic use.
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