Wheat Finishes Lower In Front of WASDE

Nearby wheat contracts lost 3 to 4 1/2 cents on Thursday, with MLPS leading the way. US accounted for 46.1% of the weekly Japanese tender, having shipped 57,110 MT. The weekly Export Sales for wheat were 360,568 MT which was down 16.98% compared to last week’s sales and a 45.47% decline over the same week last year. FAS shows 408,500 MT of wheat was shipped out for the week ending 10/31; with the main destinations being Japan (20.95%), Philippines (15.91%), South Korea (15.59%), Mexico (13.17%), and Taiwan (12.44%). Accumulated exports through the first 22 weeks of the MY are 10.766 MMT, which is up 25.47% over last MY’s pace. Analysts are anticipating the WASDE to indicate world ending wheat stocks to be at 287.8 MMT.

DEC 19 CBOT Wheat closed at $5.12 1/2, down 4 1/4 cents,

DEC 19 KCBT Wheat closed at $4.24 3/4, down 3 cents,

DEC 19 MGEX Wheat closed at $5.18 3/4, down 4 1/2 cents

-- provided by Brugler Marketing & Management

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