Wheat futures are mostly 5 to 7 1/2 cents lower in the CBT and KC contracts at midday. MPLS is currently 7 to 11 1/4 cents in the red. This afternoon’s Crop Progress report is expected to show the winter wheat crop 95% planted, with conditions seen as improving slightly. The Export Inspections report released this morning showed wheat for 11/9 improving over last week by 5.57% at 301,039 MT. That was also 7.84% larger than the same week last year, as YTD inspections lag last year by 5.69% at 11.728 MMT. A total of 30,000 MT of US SRW was purchased by a Moroccan firm through the country’s preferential-tariff import quota.

Dec 17 CBOT Wheat is at $4.24, down 7 1/2 cents,

Dec 17 KCBT Wheat is at $4.27 1/2, down 5 3/4 cents,

Dec 17 MGEX Wheat is at $6.36 1/4, down 11 1/4 cents

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

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