Wheat Market Commentary

Wheat futures are 5 to 8 cents higher at midday in the active contracts. September contracts are expiring today, with limited trading activity. After the USDA left their export projection UNCH in Septembers S&D report, wheat commitments for export are now 35% of the full year estimate. The typical average for this time of year is 53%, with last year at 57%. Saudi Arabia is seeking 595,000 MT of wheat in a tender closing today. Iraq is seeking 50,000 MT of wheat from the US, Canada, and Australia with the tender to close on 9/23.

Sep 18 CBOT Wheat is at $4.79 1/2, up 7 3/4 cents,

Sep 18 KCBT Wheat is at $4.77 1/2, down 5 cents,

Sep 18 MGEX Wheat is at $5.51, unch ,

Market Commentary provided by:

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