Wheats faded their midday gains on Monday and closed fractionally mixed but mostly lower. Chicago prices were fractionally to 2 cents in the red at the bell. March SRW traded in a 17 3/4 cent range on the day. KC wheat futures ended the session with fractional to 3 1/2 cent losses. Spring wheat held onto fractional to 2 cent gains for the close.Â
Going into the quarterly Grain Stocks report, traders are looking for a 1.339 bbu wheat stock on December 1st. The full range of estimates is between 1.213 bbu and 1.429 bbu. Last year’s count was 1.378 bbu.Â
USDA reported 201,673 MT of wheat was shipped during the week that ended 1/05. That was up from 86k MT during the prior week but was 33k MT below the same week last year. The weekly update had 12.09 MMT of wheat shipments accumulated for the season through 1/05.Â
Egypt is tendering for wheat to be funded by the World Bank. Taiwan is looking to secure 45.2k MT of U.S. wheat.Â
Mar 23 CBOT Wheat  closed at $7.41 1/2, down 2 cents,
May 23 CBOT Wheat  closed at $7.50, down 1 1/2 cents,
Cash SRW Wheat  was $6.85 5/8, up 5/8 cent,
Mar 23 KCBT Wheat  closed at $8.28 1/2, down 3 1/2 cents,
Cash HRW Wheat  was $7.93 3/8, down 3 3/8 cents,
Mar 23 MGEX Wheat  closed at $9.02, up 1/4 cent,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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