Losses in the Thursday Wheat Market

Wheat futures closed the Thursday session with losses on the board. KC led the way down carrying 5 to 5 3/4 cent losses, while Chicago SRW was close behind, 2 1/4 to 3 3/4 cents in the red. MGE wheat was also lower, showing 3/4 to 2 1/2 cent drops on the day (disregarding Dec which expires a week from Friday). Census data showed that 2.143 MMT of wheat was exported during the month of October. The 78.74 mbu was a 6-year high for October wheat exports. Weekly export sales data from the USDA showed that 228,086 MT of wheat sales through the week ending 11/28. Those sales were 68% below the same week of last year. Accumulated MY exports for all wheat were listed at 12.38MMT, and is 22.86% above last year’s pace. Japan purchased 160,640 MT of wheat in their weekly MOA tender, with 91,220 MT from the US. Algeria purchased ~500,000 MT of optional origin wheat in a tender on Thursday.

DEC 19 CBOT Wheat closed at $5.32, down 3 cents,

DEC 19 KCBT Wheat closed at $4.20 1/4, down 5 cents,

DEC 19 MGEX Wheat closed at $4.98, up 1 3/4 cents

--- provided by Brugler Marketing & Management

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