Wheat Markets Weaker on Tuesday

The wheat complex fell back on Tuesday. CBT futures were down 2 1/2 to 4 1/2 cents at the close. The national SRW cash price from cmdtyView was reported at $5.85/bushel on 10/27. That was down 4 1/4, maintaining basis, but up from $4.94 at this time last year. HRW futures closed 2 3/4 to 3 1/4 cents weaker on the day. Spring wheat futures ended the session down by 3/4 to 3 1/2 cents. Initial winter wheat condition ratings from NASS last night were the lowest on record for the first reporting week, with a Brugler500 score of 322. Russia’s SovEcon stated 94% of intended winter grains were planted on 18m HA.

Dec 20 CBOT Wheat closed at $6.15 3/4, down 4 1/4 cents,

Dec 20 KCBT Wheat closed at $5.49 1/4, down 2 3/4 cents,

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

--- provided by Brugler Marketing & Management

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