Wheat Market Higher at Midday
BRUG - Thu Dec 12, 11:59AM CST

Wheat is gaining double digits at midday, Chicago SRW futures are leading the way with gains of 9 to 13 cents. KC wheat futures are higher by 9 to 11 at midday, and MPLS HRS wheat futures are posting midday gains of 6 to 9 cents. Wheat bookings for the week ending 12/05 were 25.67% above market anticipation, with the USDA reporting 502,674 MT of weekly wheat sales. Those sales are 66.66% below the same week last year. Net sales were led by HRS wheat, which had 219,303 MT of weekly bookings, White wheat had 137,251 MT, with weekly export sales of 109k MT for HRW. SRW bookings were 720% higher wk/wk, but were 29.085% behind their weekly average through the MY. Japan purchased 171,045 of wheat in their monthly tender, with the U.S. filling 50.22% of the total.

Mar 20 CBOT Wheat is at $5.30 3/4, up 11 1/2 cents,

Mar 20 KCBT Wheat is at $4.42 1/4, up 11 1/2 cents,

Mar 20 MGEX Wheat is at $5.24 1/2, up 6 1/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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