Wheat Mixed at Midday

Wheat futures are steady to 2 cents lower for Chicago wheat, with Kansas City firm to two cents higher. MPLS wheat is fractionally lower for the nearby contracts. Trade estimates show wheat ending stocks for 19/20 at 1.011 bbu, just a 3 mbu reduction from Sep if realized. World carryout is seen at being trimmed by 1.34 MMT to 285.17 MMT in Thursday’s WASDE update. Analysts are expecting a total of 300,000-600,000 MT in US wheat export sales for the week that ended on October 3. In a tender closing on Thursday, Japan’s MOA is seeking a total of 114,012 MT from the US and Canada, with 60,052 MT US specific.

DEC 19 CBOT Wheat is at $5.00, down 1/4 cent,

DEC 19 KCBT Wheat is at $4.12 1/2, up 2 1/4 cents,

DEC 19 MGEX Wheat is at $5.42 1/2, down 1 cent

---provided by Brugler Marketing & Management

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