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Wheat Market Commentary
cmdty Insider - BRUG - Thu Oct 11, 5:20PM CDT

Wheat futures saw 1 to 4 cent losses in most contracts on Thursday. USDA made a few changes to their 18/19 US wheat balance sheet by upping production to 1.884 bbu as seen in the Small Grains report. They left their export projection at 1.025 bbu, while ending stocks were 21 mbu higher at 956 mbu and slightly under estimates. World ending stocks were trimmed to 260.18 MMT, down 1.11 MMT from last month and below most published trade estimates. Australian production was trimmed by 1.5 to 18.5 MMT and Russia was down 1 to 70 MMT. Trade estimates for export sales in the week of 10/4 are running 300,000-600,000 MT ahead of Friday’s report.

DEC 18 CBOT Wheat closed at $5.08, down 2 1/2 cents,

DEC 18 KCBT Wheat closed at $5.13 3/4, down 2 1/2 cents,

DEC 18 MGEX Wheat closed at $5.89 1/2, down 2 1/4 cents

--provided by Brugler Marketing & Management, Call (402) 289-2330

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