Wheat futures finished the day 2 to 5 cents lower in most CBT and KC contracts, as MPLS was slightly higher. This morning’s USDA announcements also included a private export sale of 104,200 MT of HRW to Mexico for 17/18 delivery. The USDA reported KS planting progress as only 27% complete, with OK 20% below their average. Most SRW states were shown ahead of their averages. Traders are estimating the USDA will lower the world wheat ending stocks number by 0.34 MMT to 262.8 MMT in Thursday’s monthly report.

Dec 17 CBOT Wheat closed at $4.33 1/4, down 2 cents,

Dec 17 KCBT Wheat closed at $4.28 1/4, down 3 cents,

Dec 17 MGEX Wheat closed at $6.19, up 1 1/2 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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