Hard Red Wheat Futures Market News and Commentary
Chicago and MPLS futures contracts are trading 1 to 2 cents higher this morning. KC HRW futures are up 3 cents or more after being hammered on Monday and Tuesday. Domestic wheat closed lower again on Tuesday. KC HRW wheat futures finished with double digit losses in July through Dec contracts. SRW wheat futures were 4 1/2 to 7 1/4 cents weaker. MPLS wheat closed down 3 3/4 to 4 3/4 cents. Egypt’s GASC new crop wheat tender was filled with 120,000 MT of Ukraine wheat; the US was still about $10/MT too high to be competitive with Black Sea offerings. Jordan issued an international wheat tender, seeking 120,000 MT with results expected tomorrow.
--- provided by Brugler Marketing & Management