Wheat Higher In All Three Markets

Wheat futures are trading 1 3/4 to 2 1/2 cents higher across all three markets. They settled Thursday with fractional to 3 cent gains in the CBT and MPLS contracts on Thursday, with KC fractionally mixed. Parts of The Dakotas and MN are expected to see snow this weekend, likely delaying planting even further. May futures options expire today. USDA reported 425,255 MT in all wheat old crop export bookings for the week of April 18. That is up 33.8% from the week prior and 43.09% larger than the same time last year. There are nearly 5.25 MMT in unshipped 18/19 sales (80% larger yr/yr) with just under a month and a half left in the MY. New crop sales totaled 226,189 MT. A total of 600,000 MT of optional origin wheat is sought in a Saudi Arabia tender. The world wheat production estimate for 19/20 was increased by 3 MMT by IGC, with carryover for new crop up 4 MMT to 274 MMT. Their Russian production projection is 79.5 MMT. --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.