Wheat Closes Lower out of the Weekend

Nearby wheat futures were down by as much as 8 3/4 cents for winter wheat contracts. Spring wheat was also lower, closing down 6 3/4 cents lower on Monday. Winter wheat was reported at 77% planted, and 53% emerged for the 18 states USDA tracks on par with average. Wheat export inspections from the week ending 10/17 showed a increase in wk/wk wheat exports with 565,099 MT, up 67,631 from the week ending 10/10. The report indicated MYTD total is at 10.063 MMT (367.77 mbu), 18.3% ahead of last year’s pace. HRW wheat was the biggest component of the week’s total exports with a 36.4% share. HRS exports encompassed a 33.4% share of the week’s exports, while 22% were soft white. Saudi Arabia purchased 605,000 MT of wheat in their recent tender. Algeria is also tendering for wheat with Tuesday deadline.

DEC 19 CBOT Wheat closed at $5.23 1/2, down 8 3/4 cents,

DEC 19 KCBT Wheat closed at $4.25 1/2, down 8 1/4 cents,

DEC 19 MGEX Wheat closed at $5.37 3/4, down 6 3/4 cents,

--provided by Brugler Marketing & Management

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