Wheat Futures Up 2 to 5 Cents as Dollar Weakness Persists

Wheat futures are trading 2 to 5 cents per bushel higher this morning. Domestic wheat futures rallied double digits on Tuesday. SRW futures closed 1.49% to 1.99% higher. HRW futures rallied 1.58% to 1.63% on the day. Spring wheat futures closed up by 1.08% to 1.38%. The Chicago KC premium ended firm at 42 1/4 cents, but Chi/MPLS grew to 46 3/4 cents. SRW is $1.62/bu above March corn. State wheat conditions data showed KS conditions improved to 46% G/E from 33% in the last national report. NE conditions also improved, but CO, MT, and SD conditions worsened over the month.  Trade ideas about December 1 wheat stocks are beginning to float, with some in the 1.685 billion bushel range.

--- provided by Brugler Marketing & Management




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