Wheat in Black at Friday Midday

Wheat futures are showing midday gains. CBT wheat is 4 1/2 to 7 1/2 cents stronger so far. KC wheat futures are gaining 7 1/4 to 9 1/4 cents. MGE HRS futures are up 1 1/4 to 3 cents. US exports for the marketing year beginning June 1 now total 10.19 MMT (374.4 mbu. South Korea purchased 65,000 MT of U.S. feed wheat. Taiwan purchased 88,635 MT of U.S. wheat in an international tender. Egypt is tendering for wheat, with results expected later today. Russia has the lowest bid so far, but no purchases announcement has been made through midday. The Rosario Grain Exchange has reduced its estimate of the Argentine wheat crop to 16.8 MMT vs. USDA at 19 MMT.

Dec 20 CBOT Wheat is at $6.29, up 6 1/4 cents,

Dec 20 KCBT Wheat is at $5.67 1/2, up 7 1/4 cents,

Dec 20 MGEX Wheat is at $5.75 3/4, up 1 1/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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