Wheat Market Commentary

Wheat futures are mixed on Thursday, with CBT mostly steady to a penny higher and KC and MPLS 1 1/2 cents on either side of UNCH. USDA made a few changes to their 18/19 US wheat balance sheet by upping production to 1.884 bbu as seen in the Small Grains report. They left their export projection at 1.025 bbu, while ending stocks were 21 mbu higher at 956 mbu and slightly under estimates. World ending stocks were trimmed to 260.18 MMT, down 1.11 MMT from last month and below most published trade estimates. Australian production was trimmed by 1.5 to 18.5 MMT and Russia was back down 1 to 70 MMT.

DEC 18 CBOT Wheat is at $5.11 1/4, up 3/4 cent,

DEC 18 KCBT Wheat is at $5.15 3/4, down 1/2 cent,

DEC 18 MGEX Wheat is at $5.93 1/4, up 1 1/2 cents

--provided by Brugler Marketing & Management, Call (402) 289-2330




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