Wheat Mixed at Midday

Wheat Mixed at Midday

Friday wheat futures are mixed at midday, Kansas City wheats are fractionally lower, with Chicago down by as much 3 cents. MLPS wheat futures were higher after the report bu as much as 5 1/2 cents but currently fading. The WASDE reports from this morning showed a 29 mbu reduction to the 2019 US ending stocks, and are now forecasted to be 1014 bbu. USDA cut harvested acres by 900,000 after the re-survey. World Wheat ending stocks are bumped up 0.42 MMT over last month to 288.28 MMT. Analysts were expecting, on average, a reduction, so this came as a surprise to the market. The US accumulated exports through the first 22 weeks of the MY are 10.766 MMT, which is up 25.47% over last MY’s pace.

DEC 19 CBOT Wheat is at $5.13 3/4, down 1 1/4 cents,

DEC 19 KCBT Wheat is at $4.25 1/2, up 3/4 cent,

DEC 19 MGEX Wheat is at $5.23 1/2, up 4 3/4 cents

-- provided by Brugler Marketing & Management

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