BRUG - Mon Aug 21, 4:42PM CDT

Wheat futures finished 4 to 7 cents in the red in most KC and CBT contracts, as MPLS was 10 to 13 3/4 cents lower in the nearby contracts. Wheat exports for the week of August 17 totaled 583,126 MT, 13.98% larger than last week and 8.49% above this time last year. The spring wheat harvest was 58% complete as of August 20, compared to the average of 51% and last year’s 63%. Condition ratings were up 1% g/e according to the USDA, to 34% g/e. The Brugler500 is now at 276, up 3 from last week. This will be the last reporting week for spring wheat conditions in 2017. Taiwan purchased 98,850 MT of US wheat last week, with Oct shipment. The Saudi Grains Organization purchased 490,000 MT of wheat over the weekend, with origins from the EU, North and South America, and Australia.

Sep 17 CBOT Wheat closed at $4.09 1/2, down 6 1/2 cents,

Sep 17 KCBT Wheat closed at $4.07 3/4, down 6 3/4 cents,

Sep 17 MGEX Wheat closed at $6.55, down 13 3/4 cents

Market Commentary provided by:

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