Wheat Recovers some on Wednesday

At the close for the midweek session, wheat futures were double digits in the black. CBT wheat closed 9 to 11 1/4 cents higher, with Dec at $5.78/bu. KC futures were 13 1/2 to 14 ¾ cents stronger on the day. MPLS HRS wheat closed the session 5 1/4 to 6 3/4 cents in the black.  Traders estimate USDA will show between 250,000 MT and 700,000 MT of wheat export business for the week ending 11/26. Australian wheat harvest was reported at 45% complete, with reports of more than expected high pro. Japan’s MOA issued the regular food wheat tender seeking 67k MT from U.S. and 60k MT from Canada and Australia. Results are expected tomorrow.

Mar 21 CBOT Wheat closed at $5.88 1/2, up 11 1/4 cents,
Mar 21 KCBT Wheat closed at $5.53 3/4, up 14 3/4 cents,
Mar 21 MGEX Wheat closed at $5.56, up 6 3/4 cents,

 --- provided by Brugler Marketing & Management




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