Wheat Markets Higher to Begin Friday

Wheat is 4 to 6 cents higher to start the last trading day of the week. At the close on Thursday, CBT wheat futures were down 7 to 8 cents. KC wheat closed the Thursday session 8 3/4 to 9 1/2 cents lower. HRS futures were down 5 1/2 to 8 cents on the day. From the weekly Export Sales report, USDA data had 367,455 MT of wheat sold in the week ending 10/15. Shipments on the week were 192,145 MT, bringing MYTD exports to 10.19 MMT (374.4 mbu). USDA’s Ag Attaché has Ukrainian wheat production 8% below USDA’s official estimate at 24.972 MMT respectively. The Ag Attaché also sees tighter carryin stocks, reducing Ukraine’s 2020/21 ending stocks to 905,000 MT. Egypt is tendering for wheat, with results expected later today. The Rosario Grain Exchange has reduced its estimate of the Argentine wheat crop to 16.8 MMT vs. USDA at 19 MMT.

--- provided by Brugler Marketing & Management

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