Wheat Market Hovers Near UNCH

This morning, wheat futures are fractionally mixed in the Chicago and KC contracts and as much as a penny per bushel lower in Minneapolis. Yesterday futures finished mostly in the black. Chicago wheat led the way posting a daily gain of 4 1/2 cents, with KC wheat futures closely behind gaining 1 1/2 cents on the day. Minneapolis HRS wheat futures saw some fractional losses at the close. Export inspections for the week ending 11/14 hit 449,304 MT, which was lower than last week’s 539,724 MT. The same week last year saw 509,900 MT. Year to date exports are now 11.920 MMT, which is 21.39% above last year’s pace. Soft white exports totaled 144,548 MT and made up 34.62% of the weekly inspections. HRS’s share was 21.74%, HRW held a 20.77% share, and SRW wheat encompassed 18.51% of the weekly export inspections. Winter wheat planting was 95% completed, matching the average pace. Emergence had progressed 5% to 83% emerged. Conditions for winter wheat were 345 on the Brugler500 index, which was a 4 point drop from the previous week.

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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