Wheat

Wheat futures finished the Tuesday session with most contracts higher, as nearby MPLS contracts were steady. The US supply and demand table was left unchanged for 17/18, with production at 1.739 bbu, and ending stocks at 933 mbu. They are waiting on the September 29 Small Grains report for data. World wheat ending stocks for new crop was adjusted to 263.14 MMT, a 1.55 MMT drop from August. Russian production was increased 3.5 MMT to 81 MMT, while Australian and EU production ideas were reduced. Japan is seeking 139,382 MT of wheat from Australia, Canada and the US in their weekly MOA tender. It calls for 55,645 MT of US wheat, with the tender to close Thursday.

Sep 17 CBOT Wheat closed at $4.19 1/2, up 7 1/4 cents,

Sep 17 KCBT Wheat closed at $4.16, up 6 3/4 cents,

Sep 17 MGEX Wheat closed at $6.26 1/4, unch,




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.