Wheat futures are 5 to 8 cents per bushel lower across the three markets this morning. They closed the Wednesday session with most contracts 1 3/4 to 6 cents in the green. The USDA Export Sales report is expected to show all wheat sales during the week of August 2 between 200,000-500,000 MT. Last week’s sales totaled 382,452 MT. US Wheat ending stocks are expected to be down 18 mbu in Friday’s USDA report to 967 mbu according to pre-report surveys. That is mainly due to expected production reductions. A German Farm Cooperative group sees the 2018 German wheat harvest at 19.2 MMT, down from last years 24 MMT, citing hot and dry conditions.

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