Wheat Market Closed Mostly Lower
BRUG - Wed Dec 11, 4:37PM CST

Wheat futures trading mostly lower after Wednesday’s trades. Chicago SRW futures were down by the most posting losses of 3 3/4 to 4 3/4 cents in the nearby contracts. KC wheat futures were also lower at the close with front month losses ranging from 1/2 to 3 cents escalating through Dec 2020. MGE finished fractionally mixed. Estimates range from 200k MT to 400k MT of wheat bookings for tomorrow’s USDA weekly export sales data. The French monthly estimate for 19/20 MY exports from France Agrimer was 200,000 MT higher, to 12.2 MMT. Coceral gave EU wheat production a 1.7 MMT bump, if realized that would be a 14.26% yr/yr increase for EU wheat production. World ending stocks from yesterday’s WASDE were 1 MMT higher than the November forecast; at 289.5 MMT. Russia filled Syria’s international tender with 200,000 MT of milling wheat. Taiwan is also tendering, the country wants 104,600 MT of U.S. wheat.

Dec 19 CBOT Wheat is at $5.29, down 5 3/4 cents,

Dec 19 KCBT Wheat is at $4.16, unch,

Dec 19 MGEX Wheat is at $5.01 1/2, up 4 1/2 cents,

--- provided by Brugler Marketing & Management

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