Wheat futures ended Thursday with most KC contracts 1 to 1 1/4 cents in the green, as the CBT contracts were fractionally lower. MPLS was the weakest on the day, down 1 to 2 1/2 cents in most contracts. Support in the HRW contracts came from reports of sub-zero temps likely this weekend in portions of the Central-Southern Plains. Areas with little snow cover could be at risk of winter kill. 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.

Mar 18 CBOT Wheat closed at $4.27 3/4, down 1/4 cent,

Mar 18 KCBT Wheat closed at $4.26 3/4, up 1 1/4 cents,

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

Market Commentary provided by:

Brugler Marketing & Management LLC
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