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

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