Wheat Market News and Commentary

Wheat futures are 4 1/2 to 6 1/2 cents lower this morning in the Chicago and KC contracts. MPLS spring wheat is steady to 1 cent lower. Wheat ended the Monday session mixed, as MPLS was down 1 1/4 to 1 1/2 cents higher. CBT was down 2 1/2 cents to 1/2 cent higher, with KC steady to up 1 1/2 cents. All wheat export inspections were 538,808 MT for the week that ended on April 8. That was up 18.6% from the week prior and 24.76% larger than the same week in 2018. The weekly Crop Progress report from NASS indicated that just 1% of the spring wheat crop was planted as of 4/7, shy of the 5% average. Wet and cold weather this week are expected to delay planting even further with up to 24” of snow predicted in some areas. The winter wheat crop was 3% headed on Sunday, lagging the 4% average. Conditions rose 4% to 60% gd/ex, or 361 on the Brugler500 rating. That is well above this time last year and up 5 points from last week.

--Provided by Brugler Marketing & Management




Market Commentary provided by:

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