Wheat Market News and Commentary

Wheat futures are mostly 1 to 5 cents higher this morning, with KC HRW the strongest. They closed Wednesday with gains of 5 to 8 cents in most front months, disregarding soon to expire December. The range of trade estimates for all wheat sales in today’s Export Sales report is 500,000-800,000 MT. On Tuesday, USDA narrowed the cash average wheat price estimate by 20 cents to $5.05-$5.25, with the mid-point rising a nickel to $5.15. The same WASDE report saw Australian 18/19 production down 0.5 to 17 MMT, with Canadian up 0.3 to 31.8 MMT. Egypt’s GASC purchased 180,000 MT of wheat on Wednesday, split between Russia (120,000) and Romania (60,000). Iraq purchased 50,000 MT of US wheat from their tender back on Dec. 3, with the deal finalized late on Tuesday.

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.