Wheat Market Commentary

Wheat futures settled the day with 2 to 6 1/4 cent losses in most contracts, as nearby Dec showed low volume ahead of next Friday’s expiration. MPLS was the weakest. Monthly trade data from Census showed that 1.904 MMT (69.97 mbu) of US wheat was exported in October. That was 4.6% larger than September and 45.42% above a year ago. Weekly export sales for all wheat are estimated at 300,000-600,000 MT. Taiwan importers purchased 110,000 MT of US wheat in their tender on Wednesday. Japan’s weekly MOA tender also saw purchases of 143,643 MT of wheat, with 62,975 MT US specific and the balance Canadian and Australian. Canadian wheat production for 18/19 is seen at 31.769 MMT according to Stats Can, up 5.95% from last year. Egypt’s GASC purchased 290,000 MT Russian and 60,000 MT Ukrainian wheat for Jan 21-31 delivery in their tender on Thursday, with no offers from the US.

Dec 18 CBOT Wheat closed at $5.05 1/4, down 9 1/4 cents,

Dec 18 KCBT Wheat closed at $4.68 3/4, down 7 3/4 cents,

Dec 18 MGEX Wheat closed at $5.78, down 6 1/4 cents

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.