Wheat

Wheat futures are showing 3 to 5 cent losses in most CBT and KC contracts, with MPLS 10 to 13 1/4 cents in the red. The US supply and demand table was left unchanged for 17/18, with production at 1.739 bbu, and ending stocks at 933 mbu. They are waiting on the September 29 Small Grains report for data. World wheat ending stocks for new crop was adjusted to 263.14 MMT, a 1.55 MMT drop from August. The USDA Crop Progress report showed 95% of the spring wheat crop harvested, 8% above the average. The winter wheat crop was reported at 5% planted, vs. the average of 6%. Japan is seeking 139,382 MT of wheat from Australia, Canada and the US in their weekly MOA tender. It calls for 55,645 MT of US specific wheat, with the tender to close Thursday.

Dec 17 CBOT Wheat is at $4.31, down 3 3/4 cents,

Dec 17 KCBT Wheat is at $4.30 3/4, down 4 cents,

Dec 17 MGEX Wheat is at $6.29, down 13 1/4 cents




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
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