Wheat Trades Both Sides of UNCH
Wheat futures are fractionally mixed this morning, with KC HRW leaning lower. They posted double digit gains in the winter wheat contracts on Tuesday, with MPLS up 8 to 8 ¾ cents on the day. In an international tender, South Korea is looking for 80,600 MT of US wheat with the deadline on Wednesday. Monday’s NASS Crop Progress report showed a sharp 6 point drop in US winter wheat ratings on the Brugler500 index to 322. 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 as rains have been insufficient to break the ongoing drought in the Plains states.
--- provided by Brugler Marketing & Management
