Wheat

Wheat futures saw most contracts 5 to 8 1/4 cents lower today, with a few MPLS contracts down as much as 12 1/2. Trade data from the month of October shows the US shipped 1.393 MMT of wheat. That was down 19.64% from last month and 40.94% lower than the same time last year. This morning’s report from Stats Canada showed the country’s 2017 total wheat production hit 29.984 MMT. That was down 5.5 % from last year but exceeded the average projection of 28 MMT. Durum wheat was also reported higher than expectations at 4.962 MMT, down 36.1% from a year ago. All wheat weekly export sales are estimated to run 250,000-450,000 MT in Thursday morning’s USDA report.

Dec 17 CBOT Wheat closed at $3.98 1/2, down 7 1/2 cents,

Dec 17 KCBT Wheat closed at $4.06, down 8 1/4 cents,

Dec 17 MGEX Wheat closed at $6.03 3/4, down 5 1/4 cents




Market Commentary provided by:

Brugler Marketing & Management LLC
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