Wheat Market Mixed

The wheat market closed Wednesday’s session mixed. Chicago wheat was higher by 1 1/4 cents in the March contract, but finished 1 1/4 to 1 3/4 cents lower in the deferreds. Kansas City wheat was 2 1/2 to 2 3/4 cents lower at the closing bell. Spring wheat futures finished fractionally mixed, with 3/4 cent losses in March and 1/4 to 1/2 cent gains in the May and July contracts. Traders expect the Export Sales report from the week ending 02/20 to show 400k to 600k MT of wheat sales. Traders also expect tomorrow’s update to show between 25k and 100k MT of new crop wheat sales. South Korea purchased 85,000 MT of U.S. origin wheat.

Mar 20 CBOT Wheat closed at $5.40 1/4, up 1 1/4 cents,

Mar 20 KCBT Wheat closed at $4.52 1/4, down 2 3/4 cents,

Mar 20 MGEX Wheat closed at $5.15 1/4, down 3/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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