Wheat Sees Bounce on Wednesday

Wheat futures saw 1 3/4 to 2 1/4 cent gains across the three exchanges on Wednesday, with some help from a little short covering. Trade estimates ahead of the USDA weekly Export Sales report are 200,000-500,000 MT for wheat, with last week’s total at 487,672 MT. Taiwan purchased 94,950 MT of US wheat in their tender on Wednesday for Oct/Nov delivery. Egypt’s GASC is tendering for wheat with mid-late Sept delivery, with the tender to close on Thursday.

SEP 19 CBOT Wheat closed at $4.73 3/4, up 1 3/4 cents,

SEP 19 KCBT Wheat closed at $3.84 3/4, up 1 1/4 cents,

SEP 19 MGEX Wheat closed at $5.05 1/2, up 2 1/4 cents

--provided by Brugler Marketing & Management

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