Wheat Settle Higher on Large Export Shipments

Wheat futures posted 8 to 12 1/4 cent gains in most winter wheat contracts on Monday, with MPLS 1 to 5 cents higher. The weekly Export Inspections report showed a robust 842,418 MT of wheat shipped in the week of May 9. That was 56.73% larger wk/wk and 80.40% above the same week last year! USDA showed 42% of the winter wheat crop headed as of Sunday, behind the 54% average. Conditions were steady with last week at 64% gd/ex, with 3% moving from good to excellent. That pushed the Brugler500 Index 3 points higher to 369. Spring wheat planting managed to find some dry ground last week with progress moving 23% to 45% complete by Sunday. That was above estimates, yet shy of the average at 67% and last year’s 54%. The crop was shown 10% emerged, well behind the normal pace of 34%.

Jul 19 CBOT Wheat closed at $4.37, up 12 1/4 cents,

Jul 19 KCBT Wheat closed at $3.97, up 10 cents,

Jul 19 MGEX Wheat closed at $5.18, up 1 cent

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.