KCBT Red Wheat Futures PricesWed, Dec 18th, 2013
Latest Brugler KCBT Red Wheat Report
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Wheat futures closed 2 to 5 cents lower on the day, with the shorts again “dressing up the close” with a 4 cent sell off in the last 4 minutes of Chicago trading. The Mar 14 KCBT contract traded in positive territory earlier in the session but finished down a nickel. Wires have reported that Jordan is tendering for 100,000 MT of optional origin wheat. Egypt’s GASC purchased 120,000 MT for January 21-31 shipment overnight, with 60,000 MT from Romania and 60,000 from Russia. US wheat is competitive on a FOB basis, but not when including freight to Egypt. The winning bidders obviously have shorter hauls. Paris milling wheat futures for Jan delivery settled unchanged at 208.00
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