Wheat

Wheat futures are steady in most MPLS contracts at midday, with CBT down 2 to 4 cents and KC 5-6 cents in the red. Informa numbers released on Tuesday show all spring wheat other than Durum at 12.4 million acres, down from the USDA’s 12.6 million acres. Condition ratings in KS were down 1 point last week to 247, with OK up 15 and TX 2 points better. Spring wheat planting is progressing, but Washington is the only of the 6 states to show progress matching the average pace. Japan is seeking 89,937 MT of wheat from the US, Canada, and Australia. The weekly MOA tender will close Thursday, with 33,992 MT sought from the US. Egypt’s GASC purchased just 60,000 MT of Ukrainian wheat in their latest tender on Tuesday. Keep in mind that this was during local harvest, when they usually don’t buy much.

Jul 18 CBOT Wheat is at $4.89, down 2 1/4 cents,

Jul 18 KCBT Wheat is at $5.04 1/4, down 5 1/2 cents,

Jul 18 MGEX Wheat is at $6.01 1/2, unch ,




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.