Wheat

Wheat futures finished the day with most CBT and KC contracts 4-7 1/4 cents lower, as MPLS was down 7 to 14 1/4 cents. The US winter wheat crop was reported at 95% planted this afternoon, with 84% emerged. The USDA also reported conditions deteriorating 3 points on the Brugler500 index to 348, as gd/ex ratings were down 1% to 54%. The Export Inspections report released this morning showed wheat for November 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 closed at $4.24 1/4, down 7 1/4 cents,

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

Dec 17 MGEX Wheat closed at $6.33 1/4, down 14 1/4 cents




Market Commentary provided by:

Brugler Marketing & Management LLC
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