Wheat Bouncing as Options Expire

Wheat futures are up 4 to 9 cents in the winter wheat contracts, with MPLS fractionally mixed. December options expire today. Export commitments for US wheat is now 7.6% above last year at this time. Nearly halfway through the MY, they are 60% of the USDA projection, even with last year but lagging the 69% average. Actual shipments YTD are 45% of the forecast total (46% avg) and 24% larger yr/yr, with unshipped sales lagging 2018/19 by 25%. French wheat planting is now at 74% complete according to the FranceAgriMer, lagging 97% from this week last year.

DEC 19 CBOT Wheat is at $5.17 1/2, up 8 1/2 cents,

DEC 19 KCBT Wheat is at $4.25 1/4, up 4 1/4 cents,

DEC 19 MGEX Wheat is at $4.96, up 3/4 cent

-- provided by Brugler Marketing & Management

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