Wheat Futures are Mostly Lower at Midday
BRUG - Tue Nov 26, 12:03PM CST

Wheat futures are 1 to 5 cents lower this morning on Turnaround Tuesday profit taking. Chicago SRW is down by 3 1/2 to 4 3/4 cents after being the bull leader with a 15 cent gain on Monday. Kansas City wheat futures are down the most with losses of as much as 7 1/4 cents in nearby contracts. MPLS wheat is fractionally mixed at midday. The Chicago wheat premium over KC expanded to 97 3/4 cents, which is the highest premium since 2010. KC and MPLS wheat are deliverable against Chicago wheat futures. Winter wheat emergence is up to 87%, which was 4 percentage points above last week’s Crop Progress Report number. The average for this week in the marketing year is 90%, with last year 85% emerged.

DEC 19 CBOT Wheat is at $5.27 3/4, down 3 1/4 cents,

DEC 19 KCBT Wheat is at $4.29 1/2, down 6 cents,

DEC 19 MGEX Wheat is at $4.96 1/4, down 2 cents

-- provided by Brugler Marketing & Management

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