Wheat Market Mixed, With Chicago Premium Easing
BRUG - Thu Dec 12, 7:29AM CST

Wheat was mixed overnight, from 2 cents lower to 1 cent higher. Chicago SRW futures had losses of 3 3/4 to 4 3/4 cents in the nearby contracts on Wednesday. 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 the USDA weekly export sales report. 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 for 104,600 MT of U.S. wheat.

--- 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.