Wheat Market Recap Report
Fri 15 Feb 2013 14:38:51 CT
Related Keywords: Agriculture

March Wheat finished up 10 1/4 at 742 1/4, 2 1/4 off the high and 9 1/2 up from the low. May Wheat closed up 8 1/4 at 748 1/2. This was 8 up from the low and 3 1/4 off the high.

KC and Chicago wheat traded higher on the day after yesterday's impressive export data and thoughts that demand is beginning to pick up for the US. It was reported late yesterday that a Brazilian flour miller bought 100,000 tonnes of US hard wheat for 30 day shipment which was a positive for the KC market but a storm system is expected to drop a significant amount of snowfall into the western plains next week which tempered some of the bullish trade action. It was also rumored that China may have been in the market for spring and soft wheat overnight which is seen as a short term positive. The broader commodity complex was mostly negative throughout the day with metals down sharply and crude oil lost over a dollar in early trade which helped to limit the gains in the grain markets.

March Oats closed down 1 at 379. This was 2 up from the low and 3 1/2 off the high.


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