Wheat Higher at Midday on Strength in Corn

Wheat futures are firm to 7 cents higher in most contracts on Thursday. USDA reported just 187,567 MT of 19/20 wheat export sales in the first full week of the new MY (week ending 6/13). Japan purchased a total of 61,864 MT of US wheat in this week’s MOA tender. Russian wheat production estimates from IKAR saw a 0.5 MMT reduction to 80 MMT, while they trimmed their export forecasts by the same to 36.5 MMT. SovEcon also lowered their Russian export projection by 0.6 MMT to 37.6 MMT

Jul 19 CBOT Wheat is at $5.28, up 5 3/4 cents,

Jul 19 KCBT Wheat is at $4.63 1/2, up 6 cents,

Jul 19 MGEX Wheat is at $5.43 3/4, up 2 1/4 cents

--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.