Wheat futures closed Wednesday with most contracts 1 1/2 to 3 1/2 cents in the green across all three exchanges. Thursday’s Export Sales report is expected to show old crop wheat sales pick up for the week of Jan 4 to a range of 250,000-450,000 MT. Last week’s MY low sales totaled just 130,963 MT. December 1 wheat stocks are expected to be shown at 1.849 billion bushels this Friday, nearly 10.98% lower than the same time last year. A sale of 73,625 MT of US wheat to Taiwan was reported on Wednesday.

Mar 18 CBOT Wheat closed at $4.34 1/4, up 2 cents,

Mar 18 KCBT Wheat closed at $4.40 1/2, up 1 1/2 cents,

Mar 18 MGEX Wheat closed at $6.34, up 3 1/4 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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