Wheat Market Commentary

Wheat futures were down 1 to 3 cents in the MPLS contracts, with CBT and KC 3 to 5 cents in the red. Tuesday’s Crop Progress report indicated planting progress in KS was 58% complete (49% avg), with OK 60% and TX 54% planted, both ahead of normal. That may change with this week’s weather pattern. The weekly Export Sales report will be delayed until Friday morning due to Monday’s holiday. The average trade estimate for world wheat 18/19 ending stocks on Thursday is 261.2 MMT, which would be fairly stead with last month’s projection. US stocks will be higher, due to the September 28 data.

DEC 18 CBOT Wheat closed at $5.10 1/2, down 4 1/2 cents,

DEC 18 KCBT Wheat closed at $5.16 1/4, down 3 1/4 cents,

DEC 18 MGEX Wheat closed at $5.91 3/4, down 1 3/4 cents

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

Market Commentary provided by:

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