Wheat Market News and Commentary

Wheat futures are posting losses of 5 to 10 1/4 cents in most contracts on Wednesday. Nearby March is showing low trade ahead of Thursday’s expiration. Allendale’s survey or producers shows projected 2019 all wheat acreage at 47.414 million acres. Yesterday, Vantage indicated a tighter 46.722 million acres. All wheat export sales in the week of March 7 are expected to total 400,000-600,000 MT for old crop sales and 50,000-150,000 MT for new crop. A South Korean tender for 50,000 MT of US wheat for late July/early August delivery will close on Thursday.

May 19 CBOT Wheat is at $4.46 1/4, down 6 3/4 cents,

May 19 KCBT Wheat is at $4.35 3/4, down 7 cents,

May 19 MGEX Wheat is at $5.50 1/2, down 10 1/4 cents

--provided by Brugler Marketing & Management




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