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




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