Wheat futures settled with fractional to 2 1/4 cent losses in most CBT contracts, as KC was down 2 to 4 1/4 cents. MPLS saw steady to 4 3/4 cent gains in most contracts. Analysts are expecting to see the old crop US ending stocks number slightly higher at 1.015 bbu in Thursday’s USDA WASDE report. The USDA Export Sales report will also be released on Thursday morning. Egypt’s GASC purchased 175,000 MT of Russian wheat in this morning’s tender for mid April delivery. Taiwan is seeking 92,465 MT of US wheat for April/May delivery, with the tender to close March 13.

Mar 18 CBOT Wheat closed at $5.02, down 1/4 cent,

Mar 18 KCBT Wheat closed at $5.29 1/4, down 4 1/4 cents,

Mar 18 MGEX Wheat closed at $6.27 1/4, up 4 1/4 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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