Wheat futures closed the day with losses in most nearby contracts. The front KC and CBT months were down 2 to 2 1/2 cents, with MPLS steady to 1 1/2 cents lower. All wheat export inspections for the week that ended on December 21 came in at 493,550 MT. That was 21.03% lower than the week prior and was 8.71% behind this time in 2016. So far in the 2017/18 wheat marketing year total export inspections have been reported at 14.23 MMT, just 5.96% behind 16/17. Import data from China shows the country’s wheat imports during November totaled 155,817 MMT, well above the same month last year. China’s 2017 imports of wheat from Jan-Nov have totaled 4.115 MMT, 30.6% larger than 2016. Egypt’s GASC is seeking wheat for early February delivery, with the tender to close on Wednesday.

Mar 18 CBOT Wheat closed at $4.22 1/4, down 2 1/2 cents,

Mar 18 KCBT Wheat closed at $4.20, down 2 1/4 cents,

Mar 18 MGEX Wheat closed at $6.11, down 3/4 cent

Market Commentary provided by:

Brugler Marketing & Management LLC
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