Wednesday Wheat Gave back Gains

Wheat Finished Wednesday’s session with sharp losses. Kansas City wheat lead the way down by as much as 14 cents in nearby contracts. Nearby Chicago wheat closed with 7 3/4 cent losses to as low as 8 cents down. MLPS also lost in the front months, finishing 4 1/2 to 7 cents lower on the day. French AgriMer lowered their ending wheat stocks projection to 2.5 MMT, riding an increase in anticipated exports, which were updated to 12 MMT. Jordan released an international tender for 120,000 MT of wheat. Egypt is also tendering for wheat for January 5-15 delivery.

Dec 19 CBOT Wheat closed at $5.09, down 8 cents,

Dec 19 KCBT Wheat closed at $4.24 3/4, down 14 cents,

Dec 19 MGEX Wheat closed at $5.15 1/4, down 6 1/2 cents,

-- provided by Brugler Marketing & Management

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