Wheat futures are also higher at midday, with Chicago the strongest, up 7 cents. Nearby KC wheat is at an 8 1/4 cent premium to front month MPLS, the largest that has been since Dec 2014. Analysts expect to see slight improvement in winter wheat ratings this this afternoon via the NASS Crop Progress report. All wheat export shipments during the week of November 19 were tallied at 358,077 MT according to USDA’s Export Inspections report. That was a jump of 7.1% from the week prior but down 17.71% from the same week in 2019. Accumulated inspections are now 12.396 MMT (445.5 mbu) nearly half-way through the MY, just 0.34% above last year. USDA’s full year WASDE projection is 975 mbu, up 10 yr/yr.
| DEC 20 CBOT Wheat is at $6.00 1/4, up 7 cents, |
| DEC 20 KCBT Wheat is at $5.53 1/2, up 3 1/4 cents, |
| DEC 20 MGEX Wheat is at $5.45 1/4, up 1 1/4 cents |
--- provided by Brugler Marketing & Management
