Wheat futures are mostly higher on Wednesday, with nearby Dec CBT the only front month lower. The USDA is expected to indicate 350,000-550,000 MT in all wheat export sales of Friday for the week ending Nov 16. The Bureau of Meteorology in Australia estimates a 70% of a La Nina pattern starting in December. That would most likely bring warmer and wetter summers to the country, giving much needed moisture to the area. It would not be a major factor for 2017 wheat, which is already being harvested.

Dec 17 CBOT Wheat is at $4.24, down 3/4 cent,

Dec 17 KCBT Wheat is at $4.22 3/4, up 2 1/2 cents,

Dec 17 MGEX Wheat is at $6.28 3/4, up 1 3/4 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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