Wheat futures are trading 3 to 5 cents higher to start off the Wednesday session. They showed 6 to 8 cent gains in most contracts on Tuesday. World ending stocks are expected to see a slight reduction in Thursday’s USDA report, with the average trade guess 0.22 MMT below January at 267.8 MMT. On Tuesday, Taiwan purchased 77,200 MT of US wheat for March-April shipment. Japan is seeking 100,517 MT of wheat from Australia, Canada, and the US. The weekly MOA tender will close Thursday, with 33,442 MT sought from the US. Ethiopia is seeking 400,000 MT of wheat, with the tender to close February 13.

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.