Wheat Market Commentary

Wheat futures are 2 to 3 cents lower on light profit taking, aided by a weaker dollar. The weekly Crop Progress report indicated that winter wheat planting was 57% complete vs. the 54% average, with emergence at 30%. State by state progress shows KS @ 58% complete (49% avg), with OK 60% and TX 54% planted, both ahead of normal. That may change with this week’s weather pattern. The average trade estimate for world wheat 18/19 ending stocks on Thursday is 261.2 MMT, which would be fairly stead with last month’s projection. US stocks will be higher, due to the September 28 data.

Dec 18 CBOT Wheat is at $5.11 3/4, down 3 1/4 cents,

Dec 18 KCBT Wheat is at $5.17 1/4, down 2 1/4 cents,

Dec 18 MGEX Wheat is at $5.91 1/4, down 2 1/4 cents

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




Market Commentary provided by:

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