Wheat In the Red on Thursday

Wheat futures settled with 2 to 12 cent losses in most contracts, as CBT was the weakest and MPLS the firmest. Weakness in corn pressured the market, with the nearby KC wheat-corn spread at 8 1/4 cents. The weekly Export Sales report from FAS indicated all wheat export bookings during the week that ended on July 11 at 347,290 MT. That was on the higher end of estimates and 15.75% larger than the same week last year. Mexico was the top buyer of 166,500 MT, with South Korea at 80,000 MT. The US was left out of this week’s Japan MOA tender, with 51,821 MT split between Australia and Canada.

SEP 19 CBOT Wheat closed at $4.93 1/2, down 12 cents,

SEP 19 KCBT Wheat closed at $4.32 3/4, down 9 cents,

SEP 19 MGEX Wheat closed at $5.25 1/2, down 2 1/4 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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