Wheat Up 2 to 3 Cents

Wheat starts the Wednesday session with gains of 2 to 3 cents from overnight trading. Domestic wheat futures continued lower on Tuesday, led by the winter wheat contracts. CBT wheat fell 10 to 13 1/4 cents in the front months on the day, with KC losing 6 to 8 1/2 cents. MPLS was down 2 to 4 3/4 cents. Several KC and MPLS contracts posted new lows. Weakness in corn pressured the market lower. Japan’s MOA issued their weekly wheat tender, seeking 130,295 MT, with 66,050 MT as U.S. specific. Egypt’s GASC issued a tender for an unspecified amount of wheat for September delivery. Results are expected later today. Romania, often an Egyptian supplier, has a much smaller crop this year due to drought.

--- provided by Brugler Marketing & Management

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.