Wheat Market Commentary

Wheat futures closed the day with most contracts 3 to 8 1/2 cents in the red, with MPLS the strongest of the three exchanges. A little pressure was being felt from a stronger US dollar index. All wheat export inspections totaled 384,047 MT in the week that ended on 10/18. That was down 16.02% from last week but more than double the same week last year. Winter wheat planting progress was reported at 72% complete as of Sunday, moving 7% on the week but still 5% shy of the 5-year average. The crop was also shown at 53% emerged, now 2% below normal pace. The USDA ag attach in Australia estimates the country’s wheat crop at 18 MMT, vs. the official USDA number at 18.5 MMT.

Dec 18 CBOT Wheat closed at $5.08, down 6 3/4 cents,

Dec 18 KCBT Wheat closed at $5.07 3/4, down 8 1/2 cents,

Dec 18 MGEX Wheat closed at $5.85 1/2, down 3 1/4 cents

--provided by Brugler Marketing & Management (402) 289-2330

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
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