Wheat Sliding on Wednesday
Wednesday wheat futures prices are working lower at midday. CBT futures are down 3 1/4 to 7 3/4 cents so far. HRW futures are 4 1/4 to 6 1/4 cents in the red. Spring wheat futures are down 6 to 7 3/4 cents. China sold 3.94 MMT of wheat from state reserves last week. That was 99.7% offered, for an average price of 2,504 yuan/MT ( ~ $10.54/bu). Japan is tendering for 100k MT of wheat – 52k U.S. specific. Algeria is also in the market for 50k MT of wheat. Philippines issued a tender for 100k MT of optional origin feed wheat. EU wheat exports were reported at 13.99 MMT through Jan 17, compared to last season’s 16.73 MMT pace.
| Mar 21 CBOT Wheat is at $6.67 1/4, down 5 cents, |
| Mar 21 KCBT Wheat is at $6.38, down 6 cents, |
| Mar 21 MGEX Wheat is at $6.36 1/4, down 7 1/4 cents, |
--- provided by Brugler Marketing & Management
