Wheat Down Double Digits at Midday

Wheat futures are showing double digit losses in most contracts on Wednesday, with CBT 10 to 15 cents lower and MPLS and KC down 6 to 12 cents. USDA’s Export Sales report is expected to show 200,000-500,000 MT in 19/20 export bookings during the first full week of the new MY. Egypt’s GASC is tendering for wheat for late July delivery. Russian offers were the cheapest, with US presenting no offers. Results will be announced later today. US FOB rates are currently priced out of a large part of the international market due to rally over the past month.

Jul 19 CBOT Wheat is at $5.16 3/4, down 14 3/4 cents,

Jul 19 KCBT Wheat is at $4.53, down 12 1/4 cents,

Jul 19 MGEX Wheat is at $5.41, down 11 1/4 cents

--provided by Brugler Marketing & Management




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