AgriCharts Market Commentary

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Wheat Market News and Commentary

Wheat futures closed the Tuesday session with most contracts 1 to 4 cents lower. Japan’s Ministry of Ag is back with their weekly tender of 111,961 MT of wheat from Australia, Canada, and the US. The results are due on Thursday, with 52,971 MT sought from the US. Ukrainian exports of wheat are seen at 15.5 MMT according to an estimate from APK-Inform on Tuesday. USDA’s most recent estimate was 16.5 MMT. As of 1/11, Russian FOB prices were $12.80/ton above US SRW prices at the Gulf. That should help US wheat to look more attractive internationally, though a stronger dollar did not help.

Mar 19 CBOT Wheat closed at $5.11, down 3 1/4 cents,

Mar 19 KCBT Wheat closed at $4.95 1/2, down 3 1/2 cents,

Mar 19 MGEX Wheat closed at $5.62, down 3 1/2 cents

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures are mostly 2 to 5 cents in negative territory at midday. Japan’s Ministry of Ag is back with their weekly tender of 111,961 MT of wheat from Australia, Canada, and the US. The results are due on Thursday, with 52,971 MT sought from the US. Ukrainian exports of wheat are seen at 15.5 MMT according to an estimate from APK-Inform on Tuesday. USDA’s most recent estimate was 16.5 MMT. As of 1/11, Russian FOB prices were $12.80/ton above US SRW prices at the Gulf. That should help US wheat to look more attractive internationally, though a stronger dollar at midday is not helping.

Mar 19 CBOT Wheat is at $5.10 1/2, down 3 3/4 cents,

Mar 19 KCBT Wheat is at $4.94 1/2, down 4 1/2 cents,

Mar 19 MGEX Wheat is at $5.62 3/4, down 2 3/4 cents

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures are currently steady to 2 cents higher after seeing 3 to 6 cent losses in most contracts on Monday. Traders were focused on stronger than expected Russian exports that have limited the expected gains in US exports vs. year ago. USDA’s weekly Export Inspections report showed 545,804 MT of all wheat shipments during the week of 1/10. That was more than twice the previous week and 29.26% above the same week last year. Total MY shipments (June 1 to Jan 10) are now down 11.34% from last year at 13.49 MMT (495.5 mbu). Russian wheat exports from July to December have totaled 24.3 MMT, which is 13.5% larger than the same point a year ago when they had a larger crop to sell.

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures saw 3 to 6 cent losses in most contracts on Monday. Traders were focused on stronger than expected Russian exports that have limited the expected gains in US exports vs. year ago. USDA’s weekly Export Inspections report showed 545,804 MT of all wheat shipments during the week of 1/10. That was more than twice the size of the prior Holiday week and 29.26% above the same week last year. Total MY shipments (June 1 to Jan 10) are now down 11.34% from last year at 13.49 MMT (495.5 mbu). Russian wheat exports from July to December have totaled 24.3 MMT, which is 13.5% larger than the same time the year prior.

Mar 19 CBOT Wheat closed at $5.14 1/4, down 5 1/4 cents,

Mar 19 KCBT Wheat closed at $4.99, down 5 1/2 cents,

Mar 19 MGEX Wheat closed at $5.65 1/2, down 4 1/2 cents

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures are trading 1 to 5 3/4 cents lower in most contracts at Monday’s midday. Solid Russian exports this year have made the US take a distant back seat. USDA’s weekly Export Inspections report showed 545,804 MT of all wheat shipments during the week of 1/10. That was more than twice the size of the prior Holiday week and 29.26% above the same week last year. Total MY shipments (June 1 to Jan 10) are down 11.34% from last year at 13.49 MMT (495.5 mbu). Russian wheat exports from July to December have totaled 24.3 MMT, which is 13.5% larger than the same time the year prior.

Mar 19 CBOT Wheat is at $5.14, down 5 1/2 cents,

Mar 19 KCBT Wheat is at $5.00 1/4, down 4 1/4 cents,

Mar 19 MGEX Wheat is at $5.67 1/4, down 2 3/4 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