Turnaround Tuesday for Wheat

This morning we see Chicago Dec wheat futures falling 9 3/4 cents. Close behind are the KC wheat futures, lower by 5 3/4 cents at midday. MGE wheat futures are steady so far. Thailand issued an international tender for 120,000 MT of feed wheat. Japan has issued a regular wheat weekly tender, the country is looking for 160,640 MT of wheat with March delivery. Egypt purchased 295,000 MT of Russian wheat in their tender. The CFTC report showed that managed money had again reverted back to net long for CBOT wheat futures, managed money was net short for KC wheat and for MPLS wheat futures.

DEC 19 CBOT Wheat closed at $5.33 1/2, down 9 3/4 cents,

DEC 19 KCBT Wheat closed at $4.31 1/2, down 5 3/4 cents,

DEC 19 MGEX Wheat closed at $4.89 1/2, unch,

--- provided by Brugler Marketing & Management

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