Wheat

Wheat futures settled with losses of 3-5 cents in most CBT and KC contracts, as MPLS was down 8 in the March contract. Nearby March KC was 4.57% higher since last Friday, with weakness in the later part of the week limiting gains. Pressure was felt from a stronger US dollar, up 523 points on the day. Analysts are expecting Monday’s Stats Canada report to show 23.9 MMT in all wheat stocks as of Dec 31, slightly lower than last year. Egypt’s GASC’s bought 180,000 MT of Russian wheat. Russia’s IKAR is projection the Russian exports during 18/19 will total 32-36 MMT, as total production is seen at a wide range of 73-82 MMT.

Mar 18 CBOT Wheat closed at $4.46 3/4, down 4 1/4 cents,

Mar 18 KCBT Wheat closed at $4.63 1/4, down 3 3/4 cents,

Mar 18 MGEX Wheat closed at $6.03 3/4, down 8 cents




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