Traders await wheat export reconciliation.

The US old crop wheat marketing year ended on May 31. We now have final data on the weekly FAS shipments. We still don’t have the full story though. There are three separate reports covering export shipments. Weekly FAS is the quickest dataset but also the one that does not capture all shipments. Over the past 10 years the final numbers on the weekly FAS report were too short anywhere from 33 - 82 million bushels. The May WASDE would be 119 million bushels off.

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