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Wheat Markets 2 to 6 Higher Overnight
BRUG - Fri Dec 13, 7:33AM CST

So far Wheat futures are 2 to 6 cents higher. Kansas City HRW futures led the way for a Thursday rally as contracts were as much as were up by as much as 12 1/2 cents. Chicago SRW futures were up 8 1/2 to 10 1/4 cents. MPLS HRS wheat futures had plus 4 1/2 to 4 3/4 on the board at the close. Wheat export bookings for the week ending 12/05 were 25.7% above market anticipation, with the USDA reporting 502,674 MT of weekly wheat sales. Through the first half of the Marketing Year, wheat bookings averaged 472,004 MT/week, a 5.04% improvement on last year’s average through the first half. Shipments through the first half of the MY averaged 475,592 MT, compared to last year’s 391,412 MT first half average. Net weekly sales were led by HRS wheat, which had 219,303 MT of weekly bookings, Japan purchased 171,045 of wheat in their monthly tender, with the U.S. filling 50.22% of the total. China announced their minimum support price for the 2020 wheat crop, the same as 2019, but they added a cap to the amount of wheat the government would purchase. The first ever MSP purchase ceiling is 37 MMT, but is not considered to be binding.

--- provided by Brugler Marketing & Management

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