Wheat Market Commentary

Wheat futures were steady to 4 cents lower in most contract on Turnaround Tuesday. The CBT front months saw a little strength. 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. Taiwan’s tender for 110,000 MT of US wheat closes on Wednesday. EU soft wheat production is estimated at 128.6 MMT according to Coceral, down 1.3 MMT from their previous estimate. USDA exports sales data will be released on Friday.

Dec 18 CBOT Wheat closed at $5.19 1/4, up 3 1/2 cents,

Dec 18 KCBT Wheat closed at $4.83 3/4, down 1/4 cent,

Dec 18 MGEX Wheat closed at $5.87 3/4, down 2 1/2 cents

--provided by Brugler Marketing & Management




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