Wheat Red at Midday

Front month wheat futures are trading lower so far for the Thursday session. SRW futures are down 4 1/4 to 6 cents. KC wheat futures are trading with midday losses of 4 3/4 to 5 1/2 cents. MGE HRS is down 4 to 5 cents at midday. USDA announced a private export sale for 130,000 MT of soft white wheat to South Korea with 2020/21 delivery. From the weekly Export Sales report, USDA data had 367,455 MT of wheat sold on the week ending 10/15. That was down 30% wk/wk but still up 40% from the same week last year. Shipments on the week were 192,145 MT, bringing MYTD exports to 10.19 MMT (374.4 mbu). Algeria purchased 720,000 MT of wheat in the international tender. Japan purchased 80,526 MT – with 29,217 U.S. origin.

Dec 20 CBOT Wheat is at $6.24 1/2, down 5 1/4 cents,

Dec 20 KCBT Wheat is at $5.64 1/4, down 5 1/2 cents,

Dec 20 MGEX Wheat is at $5.78 1/2, down 4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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