Wheat futures are 5 to 8 ½ cents higher across the three exchanges at midday. Day traders are ignoring the lower action in the less active overnight session. In an international tender, South Korea is looking for 80,600 MT of US wheat with the deadline on Wednesday. Following Monday’s close, NASS reported that 89% of the US winter wheat crop was emerged as of 11/22, 1% faster than the 5-year average. Condition ratings were worse than estimates coming in at 43% gd/ex, down 3% from last week. That correlates to 322 on the Brugler500 index, down 6 on the week and 23 points lower than last year at this time. The brunt of the hit came in the HRW states, as CO fell 26 points, with TX down 13 and OK 10 points lower. Kansas ratings were down 8 points on the week.
| DEC 20 CBOT Wheat is at $6.07 1/4, up 8 1/2 cents, |
| DEC 20 KCBT Wheat is at $5.59 3/4, up 8 1/2 cents, |
| DEC 20 MGEX Wheat is at $5.47 1/2, up 5 cents |
--- provided by Brugler Marketing & Management
