Wheat Bounces on Friday

Wheat futures clawed their way back higher on Friday, with KC leading the way, up 17 ¾ in nearby Dec. Chicago was up 7 ¼, with MPLS 7 ½ cents higher. This morning’s delayed Export Sales report tallied a MY high 795,698 MT of wheat sales during the week of 11/19. That was well above last week’s MY low and 29.88% larger than the same week last year. Of that total, 501,852 MT was white wheat. China purchased 333,000 MT. Export commitments of wheat are 69% of the USDA projection, matching the 5-year average. Exports are 45% of that projection, 1% below normal. In their tender on Thursday, Egypt’s GASC purchased 175,000 MT of Russian wheat.

DEC 20 CBOT Wheat closed at $5.95 3/4, up 7 1/2 cents,
DEC 20 KCBT Wheat closed at $5.61 1/2, up 17 3/4 cents,
DEC 20 MGEX Wheat closed at $5.50 3/4, up 7 1/4 cents

--- provided by Brugler Marketing & Management 

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