Wheat Market News and Commentary

Wheat futures are currently 4 to 5 cents per bushel higher after being down 6 to 7 cents on Thursday. Weakness stemmed from the Egyptian tender on Wednesday, as the US made no sale due to a freight disadvantage. A higher US dollar and general selling in the grain complex also added pressure. That has reversed this morning, with the dollar weaker. Outside of actual shipping data (Export Inspections report) we will not have an update to any Export Sales data until the government is back open. A South Korean importer purchased 65,000 MT of optional origin wheat in a tender on Wednesday. The EU awarded 718,000 MT of wheat imports under their import quota.

--provided by Brugler Marketing & Management




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