Wheat Market 4 to 8 Cents Lower Wednesday Morning

Wheat futures are currently 4 to 8 cents lower after seeing mixed trade at Tuesday’s close. MPLS spring wheat is holding up the best of the three. KC was mostly a penny to 1 1/2 cents higher, with CBT up fractionally in the front months and lower in deferred contracts. MPLS was also mixed, with nearby contracts lower. The rumor mill also showed expected trade aid for wheat of 63 cents, which would discourage abandonment. USDA on Monday showed MN was 76% planted for spring wheat, only 4% behind normal, with ND at 66% and SD 70%. Japan’s weekly MOA tender is for 122,844 MT of US, and Canadian wheat, with 90,194 US specific. Taiwan purchased 111,050 MT of US wheat in their tender that closed on Tuesday.

--provided by Brugler Marketing & Management

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