Wheat Market News and Commentary
BRUG - Fri Nov 29, 7:26AM CST

The US futures markets will re-open at 8:30 AM CST following the Thanksgiving holiday break. Trading will terminate an hour early. The three US wheat futures markets all finished lower before the Turkey Day festivities. KC HRW had led the way down with nearby futures finishing 4 to 5 3/4 cents lower. MPLS also broke the 5 cent mark. The Chicago/KC wheat premium at $1.02 1/2 is the highest since at least 2004. Chicago futures also hold a premium to MPLS wheat futures, of 37 3/4 cents, with the highest spread favoring Chicago $1.48 from September 7th 2007. There were zero delivery notices against December CHI wheat on first notice day. The oldest long is dated 8/30/19. There were 11 contracts put out against KC December and 343 put out in MPLS. Trade ideas for the USDA weekly Export Sales report are in the 300,000 to 600,000 MT range.

-- provided by Brugler Marketing & Management




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