Wheat Closes Lower out of the Weekend

Nearby wheat futures were down by as much as 8 3/4 cents for winter wheat contracts. Spring wheat was also lower, closing down 6 3/4 cents lower on Monday. Winter wheat was reported at 77% planted, and 53% emerged for the 18 states USDA tracks on par with average. Wheat export inspections from the week ending 10/17 showed a increase in wk/wk wheat exports with 565,099 MT, up 67,631 from the week ending 10/10. The report indicated MYTD total is at 10.063 MMT (367.77 mbu), 18.3% ahead of last year’s pace. HRW wheat was the biggest component of the week’s total exports with a 36.4% share. HRS exports encompassed a 33.4% share of the week’s exports, while 22% were soft white. Saudi Arabia purchased 605,000 MT of wheat in their recent tender. Algeria is also tendering for wheat with Tuesday deadline.

DEC 19 CBOT Wheat closed at $5.23 1/2, down 8 3/4 cents,

DEC 19 KCBT Wheat closed at $4.25 1/2, down 8 1/4 cents,

DEC 19 MGEX Wheat closed at $5.37 3/4, down 6 3/4 cents,

--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.