Wheat Showing Gains on Wednesday

Wheat futures are firm to posting 4 cent gains on Wednesday. Taiwan purchased 94,950 MT of US wheat in their tender on Wednesday for Oct/Nov delivery. Trade estimates ahead of the USDA weekly Export Sales report are 200,000-500,000 MT for wheat, with last week’s total at 487,672 MT. Despite USDA downward revisions to the world carryout, they are still expecting world wheat production to be 768 MMT this year vs. 730 MMT last year. Ukraine was emphasized in some USDA commentary, up 4 MMT from last month.

SEP 19 CBOT Wheat is at $4.74 3/4, up 2 3/4 cents,

SEP 19 KCBT Wheat is at $3.86 3/4, up 3 1/4 cents,

SEP 19 MGEX Wheat is at $5.07 1/2, up 4 1/4 cents

---provided by Brugler Marketing & Management

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