Wheat futures finished the day with most contracts 3 to 5 3/4 cents lower, as the US dollar was nearly 275 points higher at the wheat close. Japan is seeking 64,495 MT of US wheat in their weekly tender that is looking to purchase 154,694 MT in Australian, Canadian, and US wheat. That tender will close on Thursday. Russia’s IKAR is estimating the country to export 35.3 MMT of wheat in 2017/18, 1.3 MMT higher than their previous estimate. Argentina’s wheat production is estimated at 18 MMT according to Informa analysts, up 0.3 MMT. They are also expecting the Australian production number 1.3 MMT lower than their previous projection at 20.3 MMT.

Dec 17 CBOT Wheat closed at $4.06, down 4 1/4 cents,

Dec 17 KCBT Wheat closed at $4.14 1/4, down 5 3/4 cents,

Dec 17 MGEX Wheat closed at $6.09, down 5 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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


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.