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Wheat Market 1 to 4 Cents Higher

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Wheat futures are trading 1 to 4 cents higher this morning, with MPLS spring wheat the weakest of the three contracts. Winter wheat contracts were lower on Thursday, with spring wheat firm to 2 cents higher. KC wheat futures led the way to the downside, with 5 to 6 cent losses. CBT was down 2 to 4 cents on the day. The 7-day QPF shows little to no precip from MN to MT over the next week, helping to firm the HRS market. Wheat export sales from the week ending July 23 were up 9.8% wk/wk to 676,563 MT. That was above pre-report estimates and up 77% yr/yr. The top purchasers were Philippines and Taiwan. SovEcon lowered their Russian production forecast 400k MT to 79.3 MMT. --- provided by Brugler Marketing & Management

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