Wheat Market Mixed at Midday

Tuesday wheat trading has futures moving both directions at midday. CBT futures are currently down 1/2 to 2 1/4 cents. HRW futures are higher, with fractional to 2 cent gains. MGE HRS wheat is mixed with gains in the deferreds and losses of as much as 3 1/2 cents nearby. Winter wheat was reported as 85% planted and 62% emerged as of 10/25. That is 5% and 2% ahead of the 5-yr averages respectively. KS emergence was reported at 70%. Initial winter wheat condition ratings were reported at 41% good/ex for a Brugler500 score of 322. Russia’s SovEcon stated 94% of intended winter grains were planted on 18m HA.

Dec 20 CBOT Wheat is at $6.19 1/2, down 1/2 cent,

Dec 20 KCBT Wheat is at $5.53 3/4, up 1 3/4 cents,

Dec 20 MGEX Wheat is at $5.61 1/2, down 3 1/2 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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