AgriCharts Market Commentary

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.

Wheat

Wheat futures were 3 to 5 1/2 cents higher in most contracts on Friday. The Friday Commitment of Traders report showed the big spec funds easing out of some of their short Chicago SRW positions, trimming them 16,509 contracts in the week ending November 14. They were still net short 108,576 contracts at that time. The French winter wheat crop is 95% planted according to the country’s AgriMer, with the crop rated at 97% gd/ex. Forecasts for Australia are showing mainly dry weather over the next week, helping harvest there to move along.

Dec 17 CBOT Wheat closed at $4.27 1/4, up 5 3/4 cents,

Dec 17 KCBT Wheat closed at $4.22, up 5 cents,

Dec 17 MGEX Wheat closed at $6.35, up 4 3/4 cents

Wheat

Wheat futures are currently 2 to 4 cents higher in most CBT and KC contracts, with the help of a lower US dollar MPLS is mixed with nearby contracts fractionally lower. Total export commitments of wheat are now lagging last year by 5%. They are 62% of the USDA export projection, compared to the average and last year’s 67%. The French winter wheat crop is 95% planted according to the country’s AgriMer, with the crop rated at 97% gd/ex. Forecasts for Australia are showing mainly dry weather over the next week, helping harvest there to move along.

Dec 17 CBOT Wheat is at $4.25 1/4, up 3 3/4 cents,

Dec 17 KCBT Wheat is at $4.20 1/4, up 3 1/4 cents,

Dec 17 MGEX Wheat is at $6.30, down 1/4 cent

Wheat

Wheat futures are mostly 2 to3 cents higher this morning. They saw fractional losses on most CBT and KC contracts yesterday, with nearby CBT December 1 1/2 cents higher. MPLS was up 5 to 6 cents in most contracts and is extending the gains this morning. The weekly USDA Export Sales report indicated all wheat exports pretty much even with last week at 297,804 MT, while they were 15.92% lower than this time a year ago. Total export commitments of wheat are now lagging last year by 5%. They are 62% of the USDA export projection, compared to the average and last year’s 67%. Egypt’s GASC purchased 240,000 MT of Russian wheat in their tender on Thursday. There were 9 offers, with 1 Romanian and the rest Russian. Japan purchased 125,611 MT of wheat from Australia, Canada, and the US in their weekly tender, with 65,530 MT coming from the US.

Wheat

Wheat futures saw fractional losses on most CBT and KC contracts, as nearby CBT was 1 1/2 cents higher. MPLS was up 5 to 6 cents most nearby contracts. The weekly USDA Export Sales report indicated all wheat sales of 489,301 MT during the week of November 9, within most expectations. It showed a drop of 37.4% from last week’s robust sales and was 18.2% lower than this time last year. There were also 30,000 MT shown for 18/19 all wheat sales. All wheat exports ran pretty much even with last week at 297,804 MT, as they were 15.92% lower than this time a year ago. Egypt’s GASC purchased 240,000 MT of Russian wheat in their tender on Thursday. There were 9 offers, with 1 Romanian and the rest Russian. Japan purchased 125,611 MT of wheat from Australia, Canada, and the US in their weekly tender, with 65,530 MT coming from the US.

Dec 17 CBOT Wheat closed at $4.21 1/2, up 1 1/2 cents,

Dec 17 KCBT Wheat closed at $4.17, down 3/4 cent,

Dec 17 MGEX Wheat closed at $6.30 1/4, up 5 1/2 cents

Wheat

Wheat futures are showing 1-4 cent gains in most CBT and KC contracts, as MPLS is 4-5 cents higher in the nearby contracts. The weekly USDA Export Sales report indicated all wheat sales of 489,301 MT during the week of November 9, within most expectations. It showed a drop of 37.4% from last week’s robust sales and was 18.2% lower than this time last year. There were also 30,000 MT shown for 18/19 all wheat sales. Egypt’s GASC purchased 240,000 MT of Russian wheat in their tender on Thursday. There were 9 offers with 1 Romanian and the rest Russian. Japan purchased 125,611 MT of wheat from Australia, Canada, and the US in their weekly tender, with 65,530 MT coming from the US.

Dec 17 CBOT Wheat is at $4.23 1/2, up 3 1/2 cents,

Dec 17 KCBT Wheat is at $4.20, up 2 1/4 cents,

Dec 17 MGEX Wheat is at $6.28 3/4, up 4 cents


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com