Wheat Gaining Double Digits

Thursday wheat trading has futures gaining at midday. CBT prices are up 8 to 11 3/4 cents so far. KC HRW futures are gaining 10 to 110 3/4 cents. MGE HRS futures are up at least 10 3/4 cents with gains limited to 11 1/2 cents at midday. The weekly Export Sales report with data for the week ending 1/7 showed wheat sales at 221,942 MT. That was below the range of estimates, and down 66% yr/yr. Most of the sales were HRS and HRW, with 59% and 42% of the total respectively. HRS commitments are 29% of the accumulated total, compared to USDA’s forecasted 27% share. MYTD all wheat commitments are 78.6% of the forecasted export. Japan purchased 116,700 MT of wheat in an international tender, 49,920 MT was US specific and the remainder was Canada and Australia.  

Mar 21 CBOT Wheat is at $6.72 1/4, up 11 3/4 cents,
Mar 21 KCBT Wheat is at $6.36 1/2, up 10 3/4 cents,
Mar 21 MGEX Wheat is at $6.40 1/4, up 11 1/2 cents,

--- provided by Brugler Marketing & Management

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