Wheat Gaining Again

Tuesday wheat futures were mostly higher with Kansas City HRW futures leading the way. Chicago wheat futures were up 3 1/4 to 4 3/4 cents higher at closing, KC wheat made gains by as much as 7 1/4 cents in nearby contracts. MPLS HRS ended Tuesday steady to 1 cent lower. Japan’s lower house has passed the trade deal signed by President Trump and Prime Minister Shinzo Abe on October 7th, and it should cut tariffs on wheat, beef, pork, among other US ag goods by an estimated $7 billion. Japan’s upper house has yet to sign off, but is expected to before December 9th. Japan has tendered for 119,998 MT of wheat.

DEC 19 CBOT Wheat closed at $5.12, up 4 3/4 cents,

DEC 19 KCBT Wheat closed at $4.25 3/4, up 7 1/4 cents,

DEC 19 MGEX Wheat closed at $5.03 1/4, unch,

-- provided by Brugler Marketing & Management

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