Front month wheat futures ended the Wednesday session with losses. SRW futures closed 0.67% to 1.3% in the red. December Chicago futures dropped a dime to $6.55. KC HRW closed 1.1% to 1.2% weaker. The new crop Chi/KC spread is 6 3/4 cents. Minneapolis wheat futures ended the Wednesday session with 0.9% to 1.1% losses. The new crop Chi/MPLS wheat spread closed with a zero cent premium. Spring wheat futures were down 6 to 7 3/4 cents today. 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 closed at $6.67 3/4, down 4 1/2 cents, |
| Mar 21 KCBT Wheat closed at $6.37, down 7 cents, |
| Mar 21 MGEX Wheat closed at $6.37 1/2, down 6 cents, |
--- provided by Brugler Marketing & Management
