AgriCharts Market Commentary

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Wheat

Wheat futures ended the week with 1 to 3 cent losses in most CBT contracts, as KC was fractionally higher. MPLS was the strongest, up 10 1/2 in nearby Dec and 2.27% higher on the week. The USDA will release the Small Grains report a week from today, at 11:00 a.m. CDT. We will get a better idea of 2017 wheat production in that report, particularly spring wheat and harvested acres. Spec funds in Chicago wheat futures and options decreased their net short position by 4,177 contracts to a net position -79,658 as of last Tuesday. In KC wheat futures and options, they lowered their net long position by 616 contracts to 12,415 contracts.

Dec 17 CBOT Wheat closed at $4.49 1/2, down 3 cents,

Dec 17 KCBT Wheat closed at $4.50 1/4, up 3/4 cent,

Dec 17 MGEX Wheat closed at $6.34 3/4, up 10 1/2 cents

Wheat

Wheat futures ended the week with 1 to 3 cent losses in most CBT contracts, as KC was fractionally higher. MPLS was the strongest, up 10 1/2 in nearby Dec and 2.27% higher on the week. The USDA will release the Small Grains report a week from today, at 11:00 a.m. CDT. We will get a better idea of 2017 wheat production in that report, particularly spring wheat and harvested acres. Spec funds in Chicago wheat futures and options decreased their net short position by 4,177 contracts to a net position -79,658 as of last Tuesday. In KC wheat futures and options, they lowered their net long position by 616 contracts to 12,415 contracts.

Dec 17 CBOT Wheat closed at $4.49 1/2, down 3 cents,

Dec 17 KCBT Wheat closed at $4.50 1/4, up 3/4 cent,

Dec 17 MGEX Wheat closed at $6.34 3/4, up 10 1/2 cents

Wheat

Wheat futures are showing most CBT and KC contracts with 1 to 3 cent losses. MPLS is the strongest, 1 to 4 cents higher in most nearby contracts. The USDA will release the Small Grains report a week from today, at 11:00 a.m. CDT. We will get a better idea of 2017 wheat production in that report, particularly spring wheat and harvested acres. All wheat export commitments are now trailing this time last year by 2.9%. Compared to the USDA export projection, they are now 50% of the total, vs. 51% last year and the average pace of 53%.

Dec 17 CBOT Wheat is at $4.50, down 2 1/2 cents,

Dec 17 KCBT Wheat is at $4.48 1/2, down 1 cent,

Dec 17 MGEX Wheat is at $6.27 3/4, up 3 1/2 cents

Wheat

Wheat futures are trading 1 to 4 cents higher in all three markets this morning after ending Thursday with most contracts steady to 3 cents higher. All wheat export shipments during the week of Sep 14 were 427,688 MT, lagging the previous week by 2.63% and 22.47% lower than last year. All wheat export commitments are now trailing this time last year by 2.9%. Compared to the USDA export projection, they are now 50% of the total, vs. 51% last year and the average pace of 53%. A trade delegation from Taiwan agreed to purchase $576 million in US wheat, with most of that expected to come from ID, MT and ND. That helped Minneapolis a little bit.

Wheat

Wheat futures ended Thursday with most contracts steady to 3 cents higher. All wheat export sales for 17/18 during the week of September 14 edged into the range of expectations at 307,214 MT, 3% lower than the previous week and 45.2% behind this time a year ago. The lead buyer was the Philippines, with 77,900 MT purchased. Wheat shipments during that week were reported at 427,688 MT, lagging a week ago by 2.63% and 22.47% lower than last year. A trade delegation from Taiwan agreed to purchase $576 million in US wheat, with most of that expected to come from ID, MT and ND. That helped Minneapolis a little bit.

Dec 17 CBOT Wheat closed at $4.52 1/2, up 2 3/4 cents,

Dec 17 KCBT Wheat closed at $4.49 1/2, up 1 1/2 cents,

Dec 17 MGEX Wheat closed at $6.24 1/4, up 2 3/4 cents


Market Commentary provided by:

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