Wheat Market Commentary
BRUG - Thu Dec 06, 12:08PM CST

Wheat futures are mostly 2 to 4 cents lower at midday, with the nearby Dec contracts showing thin trade ahead of next Friday’s expiration. Monthly trade data from Census showed that 1.904 MMT (69.97 mbu) of US wheat was exported in October. That was 4.6% larger than September and 45.42% above a year ago. Taiwan importers purchased 110,000 MT of US wheat in their tender on Wednesday. Japan’s weekly MOA tender also saw purchases of 143,643 MT of US, Canadian, and Australian wheat, with 62,975 MT US specific. Canadian wheat production for 18/19 is seen at 31.769 MMT according to Stats Can, up 5.95% from last year. Egypt’s GASC purchased 290,000 MT Russian and 60,000 MT Ukrainian wheat for Jan 21-31 delivery in their tender on Thursday, with no offers from the US.

Dec 18 CBOT Wheat is at $5.07, down 7 1/2 cents,

Dec 18 KCBT Wheat is at $4.76 1/2, down 7 1/4 cents,

Dec 18 MGEX Wheat is at $5.84 1/2, up 1/4 cent

--provided by Brugler Marketing & Management




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