Wheat futures are showing steady to 2 cents lower trade in most contracts at midday, with KC the strongest. Analysts are expecting to see 250,000-550,000 MT in all wheat export sales of old crop during the week of 12/21 in Friday’s USDA Export sales report, with none seen for new crop sales. Last week’s report showed robust sales of 796,300 MT for the week ending 12/14. The winter wheat crop in areas with little snow cover in the Central-Southern Plains could be at risk this weekend, with sub-zero temps likely. This is helping to limit the losses in HRW contracts.

Mar 18 CBOT Wheat is at $4.26 1/2, down 1 1/2 cents,

Mar 18 KCBT Wheat is at $4.25 1/2, unch ,

Mar 18 MGEX Wheat is at $6.19 3/4, down 1 1/2 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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