Wheat Markets Mixed at Midday

Thursday wheat trading has futures mixed mostly in pull back mode. HRW futures are trading within 2 cents of UNCH at midday. Front month SRW futures on the CBOT are down 1 1/2 to 2 1/2 cents at midday. MGE wheat futures are down 2 to 4 cents so far. Export Sales data showed 506,284 MT of wheat sold on the week ending 9/24. That was up 44% wk/wk, up 54% yr/yr and just above the trade average guess. Mexico was the top purchaser on the week. Wheat exports from the weekly update were 13.8% above the same week last year with 646,900 MT. That brought MYTD wheat exports to 8.79 MMT. The September Grain Stocks report had Sept 1 wheat stocks at 2.159 bbu. The Small Grains Report lowered wheat production by 12 mbu from August with a 1.826 bbu crop.

Dec 20 CBOT Wheat is at $5.75 3/4, down 2 1/4 cents,

Dec 20 KCBT Wheat is at $5.10, up 1/4 cent,

Dec 20 MGEX Wheat is at $5.36 1/4, down 4 cents,

--- provided by Brugler Marketing & Management




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