Wheat in Red at Midday
The wheat/corn spread is tightening as corn futures recover and wheat prices slide further. SRW prices are down 4 to 6 3/4 cents, with new crop 2 to 3 1/2 cents lower. HRW prices are trading 2 1/4 to 4 cents lower at midday. Minneapolis wheat futures are trading 1 1/2 to 4 cents in the red. USDA announced a private HRW export sale for 138,000 MT to Nigeria for 21/22 delivery. Algeria bought 390k MT of wheat, but paid more for it relative to end of December prices.
| Mar 21 CBOT Wheat is at $6.61, down 6 3/4 cents, |
| Mar 21 KCBT Wheat is at $6.35, down 2 cents, |
| Mar 21 MGEX Wheat is at $6.33 1/2, down 4 cents, |
--- provided by Brugler Marketing & Management
