Wheat futures posted 5 to 10 1/2 cent losses in most CBT and KC contracts on Friday. MPLS was the weakest, down 21 1/4 cents in nearby Dec. This morning’s USDA reports were not so friendly for wheat. They indicated all wheat stocks on September 1 at 2.253 bbu, vs. last year’s 2.545 bbu on that same date. That was up 50 mbu from the average estimate. The Small Grains report showed all wheat production for 2017 at 1.741 bbu, vs. 1.739 bbu in August.
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