Wheat Higher for November

Front month wheat futures closed the first trade day of the new month with gains led by HRW. KC futures ended the Monday session with gains of 9 to 11 3/4 cents. CBT futures were 6 to 9 cents stronger. MPLS HRS wheat futures closed with 3 3/4 to 4 1/2 cent gains. Planting 2021/22 winter wheat advanced 4% on the week to 89%. That is 3% ahead of the average planting pace through November 1. NE and SD are fully planted for new crop. The Crop Progress report also showed emergence was 1% above average with 71% emerged. NASS had condition ratings at 43% good/ex for a Brugler500 score of 324. Wheat exports were 287,059 MT for the week ending 10/29. That was down from 399.6k MT LW, and 2.4% below the same week last year. The top destination was S. Korea with 82,602 MT. China sold 2.699 MMT of wheat from state reserves, mostly for feed use.

Dec 20 CBOT Wheat closed at $6.07 1/2, up 9 cents,

Dec 20 KCBT Wheat closed at $5.53, up 11 3/4 cents,

Dec 20 MGEX Wheat closed at $5.56, up 3 3/4 cents,

--- provided by Brugler Marketing & Management




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