Wheat Market News and Commentary

Wheat futures are showing steady to 1 3/4 cent gains in MPLS at midday, with CBT and KC contracts 5 to 6 cents higher. All wheat export inspections were reported at 516,643 MT in for the week that ended on 1/17. That was down 5.52% from the prior week but 21.96% larger than the same week in 2018. Egypt was the top destination @ 117,542 MT. Private forecaster SovEcon is estimating Russian wheat exports for January will drop to 2.3 MMT from 4.3 MMT in December. EU soft wheat exports since July 1 now total 12.218 MMT, down 27% from the previous year. Imports are up 48% at 1.951 MMT.

Mar 19 CBOT Wheat is at $5.23 3/4, up 6 cents,

Mar 19 KCBT Wheat is at $5.11 1/2, up 5 1/2 cents,

Mar 19 MGEX Wheat is at $5.76, up 1 3/4 cents

--provided by Brugler Marketing & Management




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