Wheat Lower Before Holiday Break
BRUG - Wed Nov 27, 4:24PM CST

The three US wheat futures markets all finished lower before Turkey Day. KC HRW led the way down with nearby futures finishing 4 to 5 3/4 cents lower. MPLS also broke 5 cents on the day, with other nearby futures falling around 3 to 3 1/2 cents. Chicago SRW was 1 3/4 cents lower for nearby Dec futures, while the other contracts finished on losses of 3 1/4 to 4 cents. The Chicago to KC wheat premium crested the $1.00 mark again and at $1.02 1/2 is the highest spread to favor Chicago SRW since data was kept in 2004. Chicago futures also hold a premium to MPLS wheat futures, of 37 3/4 cents, with the highest spread favoring Chicago $1.48 from September 7th 2007. There are currently zero stocks in deliverable position that are registered for delivery against Chicago Dec futures. First notice day is Friday.

DEC 19 CBOT Wheat closed at $5.28 1/2, down 1 3/4 cents,

DEC 19 KCBT Wheat closed at $4.26 3/4, down 5 3/4 cents,

DEC 19 MGEX Wheat closed at $4.88 1/2, down 5 1/2 cents

-- provided by Brugler Marketing & Management




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