Hard Red Wheat Futures Market News and Commentary
Wheat futures faded earlier gains in the afternoon and the complex closed the session mixed. SRW futures were within 2 3/4 cents of UNCH, with losses nearby and gains for ’21 crops. HRW wheat ended the session fractionally to 1 1/4 cents lower. Spring wheat futures held onto gains of up to 4 ¾ cents. US wheat export bookings are estimated between 200,000 and 800,000 MT for the week ending 10/15. The USDA weekly Export Sales report will be out in the morning. Japan issued an optional origin wheat tender for 80,000 MT. Ethiopia issued an international tender for 280k MT of optional origin wheat. S. Korea is tendering for 60k MT of feed wheat. Algeria is seeking at least 50,000 MT of wheat in an international tender.
Dec 20 CBOT Wheat closed at $6.29 3/4, down 2 1/4 cents,
Dec 20 KCBT Wheat closed at $5.69 3/4, down 1 1/4 cents,
Dec 20 MGEX Wheat closed at $5.82 1/2, up 4 3/4 cents,
--- provided by Brugler Marketing & Management