Wheat Market News and Commentary

Wheat futures ended the day with most winter wheat contracts 2 to 4 1/2 cents higher, as MPLS was down 1 to 2 1/2 cents lower. 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 US wheat export destination for the week @ 117,542 MT. It has been a while since we said that! Private forecaster SovEcon is estimating Russian wheat exports for January will drop to 2.3 MMT from 4.3 MMT in December.

Mar 19 CBOT Wheat closed at $5.21 1/4, up 3 1/2 cents,

Mar 19 KCBT Wheat closed at $5.09 3/4, up 3 3/4 cents,

Mar 19 MGEX Wheat closed at $5.72, down 2 1/4 cents

--provided by Brugler Marketing & Management




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