Wheat Bounces for Double Digit Gains

Wheat futures posted double digit gains in the winter wheat contracts on Tuesday, with MPLS up 8 to 8 ¾ cents on the day. In an international tender, South Korea is looking for 80,600 MT of US wheat with the deadline on Wednesday. Monday’s NASS Crop Progress report showed a sharp 6 point drop in US winter wheat ratings on the Brugler500 index to 322. The brunt of the hit came in the HRW states, as CO fell 26 points, with TX down 13 and OK 10 points lower. Kansas ratings were down 8 points on the week.

DEC 20 CBOT Wheat closed at $6.11, up 12 1/4 cents,
DEC 20 KCBT Wheat closed at $5.61 1/2, up 10 1/4 cents,
DEC 20 MGEX Wheat closed at $5.50 3/4, up 8 1/4 cents

--- provided by Brugler Marketing & Management 

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