Wheat Market Commentary

Wheat futures are trading steady to 8 cents higher at midday, in unison with the rest of the grain complex. A weaker dollar today is also helping to prop the market up. The nearby CBT-KC spread is trying to unwind today, now at 33 1/2 cents. One major reason for the drop in KC prices relative to CBT and MPLS is the export rate. Total HRW commitments are just 42.28% of USDA’s projected target for the class, with SRW at 54.81% and HRS @ 58.27%. A fresh round of weekly export sales data will released tomorrow morning.

Dec 18 CBOT Wheat is at $5.00, up 2 cents,

Dec 18 KCBT Wheat is at $4.66 1/2, up 8 cents,

Dec 18 MGEX Wheat is at $5.76, up 1/2 cent

--provided by Brugler Marketing & Management

Market Commentary provided by:

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