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“The wheat markets were higher as they have recovered the losses from Monday and then some,” Bryant Sanderson, with CHS Hedging, said. “The EU Matif wheat futures were 2.75 euro to 284.50 euro/tonne for March… Export sales are expected to be between 150 tmt to 500 tmt for 2022/23 and 0 to 75 tmt for 2023/24.”

Traders are looking at 2023 wheat acreage projections. “S&P Global Commodity Insights expects the 2023 wheat planting will be near 49.837 mln acres,” Brugler Marketing said. “That included the USDA reported 36.95 mln winter wheat acres with a 3.4% increase to spring wheat area.”

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