Front month wheat futures closed the midweek session in the red. Front month HRS wheat futures fell 3 3/4 to 6 3/4 cents on the day. HRW futures closed down by 7 to 7 3/4 cents. CBT futures closed the session with 7 1/4 to 9 cents lower. The national average SRW basis from cmdtyView was 27 cents under Dec on 9/23. That is 8 cents/bu weaker compared to the same date last year. Traders expect tomorrow’s Export Sales report to show between 250-600k MT of wheat bookings from the week ending 9/17. BAGE estimates Argentina 2020/21 wheat production at 17.5 MMT, down 3.5 MMT from the May estimate. USDA has Argentine wheat output at 19.5 MMT for 2020/21. South Korea purchased 65,000 MT of feed optional origin feed wheat. Japan’s MOA issued a wheat tender seeking 86,027 MT, with 58,385 US specific. Results are expected tomorrow.

--- provided by Brugler Marketing & Management