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Wheat Closes Higher on Strength in Corn

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Wednesday wheat trading pushed futures back higher. KC HRW futures were the strongest on the day with gains of 6 1/4 to 7 cents/bu. MGE HRS futures were also up on the day with gains of 4 3/4 to 7 1/4 cents. CBT SRW futures closed the midweek session with gains of 3 1/2 to 4 cents. Analyst estimates for wheat export bookings from the week ending September 10 are 300k to 700k MT. Egypt purchased 235,000 MT of wheat from their tender for November shipment. That was 175k MT of Russian and 60k MT of Polish sourced wheat. Japan’s MOA issued a wheat tender, seeking 105k MT – with 56,765 MT U.S. specific. Results are expected tomorrow.

Dec 20 CBOT Wheat closed at $5.42, up 3 3/4 cents,

Dec 20 KCBT Wheat closed at $4.75, up 7 cents,

Dec 20 MGEX Wheat closed at $5.31 1/2, up 7 1/4 cents,

--- provided by Brugler Marketing & Management

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