Wheat Market Commentary

Wheat futures are steady to 4 cents in the red on Turnaround Tuesday, with Nearby Dec showing low volume. Due to Wednesday’s National Day of Mourning for President George H.W. Bush’s Funeral, the weekly Export Sales report will be delayed until Friday. The grain and livestock markets will remain open. Japan is seeking 143,643 MT of wheat from Australia, Canada, and the US, with the tender due on Thursday and 62,975 MT sought from the US. EU soft wheat production is estimated at 128.6 MMT according to Coceral, down 1.3 MMT from their previous estimate.

Dec 18 CBOT Wheat is at $5.14 3/4, down 1 cent,

Dec 18 KCBT Wheat is at $4.86, up 2 cents,

Dec 18 MGEX Wheat is at $5.88, down 2 1/4 cents

--provided by Brugler Marketing & Management




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