Wheat Markets Trading in Red

Thursday’s wheat futures complex is mostly lower at midday, save for a fractional gain in Dec HRS. The other front month spring wheat futures are fractionally to 3 1/4 cents weaker. SRW wheat is trading 2 3/4 to 6 cents lower at midday with 21/22 contracts down the hardest. HRW futures are 1 to 1 3/4 cents weaker. USDA reported 743,176 MT of wheat bookings for the week ending 10/22. That was above estimates, 102% above LW and up 50% yr/yr. South Korea, Mexico, and Japan were the top destinations in the report. Exports from the same report were 230% higher wk/wk with 442,535 MT (16.26 mbu) shipped. Accumulated exports from weekly data is running 2.6% above last season’s pace with 10.632 MMT shipped MYTD.

Dec 20 CBOT Wheat is at $6.06, down 2 3/4 cents,

Dec 20 KCBT Wheat is at $5.42 1/4, down 1 cent,

Dec 20 MGEX Wheat is at $5.52 1/4, up 1/4 cent,

--- provided by Brugler Marketing & Management

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