Wheat (P) Futures PricesWednesday, May 22nd, 2013
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Latest Brugler Wheat (P) Report
Wheat futures are trading 9 to 10 cents higher at midday in Chicago. Preliminary OI data shows net new selling in Chicago yesterday, with the open interest up 1,118 contracts. Japan is tendering for 122,222 MT of milling wheat this week, of which 67,897 MT is specified US origin white, HRW and DNS wheat. Results are due on Thursday. Ag Canada raised projected Canadian wheat production to 29.4 MMT, going above the USDA estimate of 29 MMT which was in turn based on Stats Canada (different agency) data. EU wheat futures are cautiously higher, with Algeria buying 50,000 MT of soft wheat for August.
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