Wheat futures settled as much as a penny higher in CBT, with MPLS and KC wheat down 1 to 2 1/4 cents. All wheat export sales totaled 328,859 MT during the week that ended Feb 15. That was a 5.7% increase over the previous week but down 27.1% from the same time last year. New crop sales were tallied at 53,600 MT. Sales of 150,000 MT were reported to the Philippines. The USDA released a projection of 47.4 bpa for the US national yield, up from 46.3 bpa last year. The 18/19 carry out is expected to be trimmed 78 mbu from 17/18 to 931 mbu. The Friday Commitment of Traders report showed the big spec funds adding to their short Chicago SRW positions by 10,208 contracts in the week ending February 20. They were net short 67,039 contracts at that time.

Mar 18 CBOT Wheat closed at $4.52 1/4, up 1 cent,

Mar 18 KCBT Wheat closed at $4.69, down 1 3/4 cents,

Mar 18 MGEX Wheat closed at $6.00 3/4, down 2 1/4 cents

Market Commentary provided by:

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