AgriCharts Market Commentary

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.

Wheat Market News and Commentary

Wheat futures closed Thursday with most contracts steady to 3 cents higher, with a couple MPLS contracts fractionally lower. Strength in corn and short covering late in the session offset a stronger US dollar. All wheat old crop exports sales for the week of 3/14 were tallied at 298,574 MT this morning, below trade estimates but 12.58% larger than the same week a year ago. South Korea bought 75,500 MT, with reductions of 45,000 MT for Singapore (switched to Sri Lanka). New crop sales were reported at 138,816 MT, with total forward sales for 19/20 YTD up 11.6% over last year. Total export commitments are now 3.1% larger than the same time in 2018.

May 19 CBOT Wheat closed at $4.66 1/2, up 1 3/4 cents,

May 19 KCBT Wheat closed at $4.47, up 3 cents,

May 19 MGEX Wheat closed at $5.71 1/4, down 1/4 cent

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures are mixed at midday, with most contracts within 2 cents of UNCH. A stronger US dollar is limiting any gains. All wheat old crop exports sales for the week of 3/14 were tallied at 298,574 MT this morning, below trade estimates but 12.58% larger than the same week a year ago. South Korea bought 75,500 MT, with reductions of 45,000 MT for Singapore (switched to Sri Lanka). New crop sales were reported at 138,816 MT, with total forward sales for 19/20 YTD up 11.6% over last year.

May 19 CBOT Wheat is at $4.63 3/4, down 1 cent,

May 19 KCBT Wheat is at $4.45, up 1 cent,

May 19 MGEX Wheat is at $5.69 3/4, down 1 3/4 cents

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures are trading 1 to 3 cents lower across the three markets this morning. They posted 4 to 8 1/4 cent gains in most contracts on Wednesday. Short covering was noted in Chicago, with preliminary open interest dropping 4,275 contracts. There is still significant snow cover in the Dakotas and Minnesota. As it melts, water levels are rising in that area. Where it isn’t melting, the ground is still frozen. It’s going to be a while before spring wheat planting begins. All wheat exports sales for the week of 3/14 are estimated in the range of 200,000-450,000 MT for old crop and 100,000-225,000 MT for new crop. Taiwan is seeking 110,000 MT of US wheat in a tender that expires on Friday. FCStone estimates Brazil imports in 18/19 down 1.3 MMT to 5.7 MMT on larger domestic production. Argentine supplies are also available.

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures posted 4 to 8 1/4 cent gains in most contracts on Wednesday. There is still significant snow cover in the Dakotas and Minnesota. As it melts, water levels are rising in that area. Where it isn’t melting, the ground is still frozen. All wheat exports sales for the week of 3/14 are estimated in the range of 200,000-450,000 MT for old crop and 100,000-225,000 MT for new crop. Taiwan is seeking 110,000 MT of US wheat in a tender that expires on Friday. Brazil’s Ag Minister stated that the quota of 750,000 MT of tariff free wheat announced yesterday is for global imports, not just US origin according to wire reports. FCStone estimates Brazil imports in 18/19 down 1.3 MMT to 5.7 MMT on larger domestic production. Argentine supplies are also available.

May 19 CBOT Wheat closed at $4.64 3/4, up 8 1/4 cents,

May 19 KCBT Wheat closed at $4.44, up 8 1/4 cents,

May 19 MGEX Wheat closed at $5.71 1/2, up 6 1/4 cents

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

Wheat futures are seeing some short covering on Wednesday, with most contracts 3 to 7 cents higher. There is still significant snow cover in the Dakotas and Minnesota. As it melts, water levels are rising in that area. All wheat exports sales for the week of 3/14 are estimated in the range of 200,000-450,000 MT for old crop and 100,000-225,000 MT for new crop. Taiwan is seeking 110,000 MT of US wheat in a tender that expires on Friday. Brazil’s Ag Minister stated that the quota of 750,000 MT of tariff free wheat announced yesterday is for global imports, not just US origin according to wire reports.

May 19 CBOT Wheat is at $4.60 3/4, up 4 1/4 cents,

May 19 KCBT Wheat is at $4.41 1/2, up 5 3/4 cents,

May 19 MGEX Wheat is at $5.72 1/4, up 7 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