Wheat

Wheat futures are trading 5 to 7 cents lower in the Chicago and KC contracts this morning. MPLS spring wheat is down 1 to 2 cents. They closed the day with 6 to 9 1/4 cent losses in most contracts on Thursday. The weekly Export Sales report showed shipments of all wheat tallied at 436,370 MT, 1.92% larger than the week prior but down 31.21% from a year ago. The main destination of 90,500 MT was Indonesia, with 63,000 MT exported to China. Commitments of all wheat exports are now 15.4% lower than this time in 2017, as sales continue to disappoint. That would place them at 92% of the USDA projection, compared to the average of 101% and last year’s 103%. Japan purchased 68,060 MT of US wheat in their weekly MOA tender out of 128,543 MT bought from Australia, Canada, and the US.




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.