AgriCharts Market Commentary

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Wheat Markets Close Mixed, Off Their Highs

Wheat futures saw mixed trade at Tuesday’s close after spending much of the session higher. KC was mostly a penny to 1 1/2 cents higher, with CBT up fractionally in the front months and lower in deferred contracts. MPLS was also mixed, with nearby contracts lower. The rumor mill also showed expected trade aid payment for wheat of 63 cents, which would discourage abandonment. USDA on Monday showed MN was 76% planted for spring wheat, only 4% behind normal, with ND at 66% and SD 70%. Japan’s weekly MOA tender is for 122,844 MT of US, and Canadian wheat, with 90,194 US specific. Taiwan purchased 111,050 MT of US wheat in their tender that closed on Tuesday. A report also showed that Ethiopia bought 600,000 MT of optional origin wheat on Tuesday.

Jul 19 CBOT Wheat closed at $4.78 3/4, up 1/2 cent,

Jul 19 KCBT Wheat closed at $4.36, up 1 1/2 cents,

Jul 19 MGEX Wheat closed at $5.43, down 1/2 cent

--provided by Brugler Marketing & Management

Wheat Mixed at Midday

Wheat futures are mixed on Tuesday, with CBT steady to 3 cents lower. KC is firm to 2 1/4 cents higher, with MPLS 1 to 5 cents in the green. The weekly Crop Progress report showed the winter wheat crop 54% headed, lagging normal by 12%. Texas is 8% harvested, matching the average pace. Condition ratings saw a 2% boost to 66% gd/ex, with the Brugler500 index up another 3 to 372 points. Spring wheat planting was in line with estimates at 70% complete, vs. the 80% average. MN was 76% planted, only 4% behind normal, with ND at 66 and SD 70%. Emergence at 26% still lags the 5-year average pace by 25%. Taiwan purchased 111,050 MT of US wheat in their tender that closed on Tuesday. A report also showed that Ethiopia bought 600,000 MT of optional origin wheat on Tuesday.

Jul 19 CBOT Wheat is at $4.77 1/2, down 3/4 cent,

Jul 19 KCBT Wheat is at $4.36 3/4, up 2 1/4 cents,

Jul 19 MGEX Wheat is at $5.46 1/2, up 3 cents

--provided by Brugler Marketing & Management

H.B. Fuller Announces Conference Call and Webcast to Discuss First Quarter 2018 Results

ST. PAUL, Minnesota - H.B. Fuller Company (NYSE:FUL) announced today that it will issue its first quarter 2018 earnings release, after the market close, on Wednesday, March 28, 2018 and host an investor conference call to discuss its results on Thursday, March 29, 2018 at 9:30 a.m. central time (10:30 a.m. eastern time).

The conference call audio and accompanying presentation slides will be available to all interested parties via a simultaneous webcast at www.hbfuller.com under the investor relations section. The event is scheduled to last one hour. For those unable to listen live, an audio replay of the event along with the accompanying presentation will be archived on the Company's website.

About H.B. Fuller Company:

For 130 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2017 proforma net revenue of $2.9 billion, H.B. Fuller's commitment to innovation brings together people, products and processes that answer and solve some of the world's biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in electronics, disposable hygiene, medical, transportation, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. And our promise to our people connects them with opportunities to innovate and thrive. For more information, visit us at www.hbfuller.com and subscribe to our blog.

Contact:

Maximillian Marcy

Director, Investor Relations

651-236-5062

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: H.B. Fuller via Globenewswire

Wheat Higher on Wet Weather and Exports

Wheat futures closed Monday with 9 to 16 cent gains in the front months. The Southern Plains continue to see abnormal amount of rain for this time of year, causing some disease concerns in the HRW crop. Monday afternoon, the Crop Progress report showed the winter wheat crop 54% headed, lagging normal by 12%. Texas is 8% harvested, matching the average pace. Condition ratings saw a 2% boost to 66% gd/ex, with the Brugler500 index up another 3 to 372 points. Spring wheat planting was in line with estimates at 70% complete, vs. the 80% average and 76% last year. Emergence at 26% still lags the 5-year average pace by 25%. Export Inspections for wheat during the week of May 16 totaled 757,704 MT. That was a 13.74% drop from the previous week but more than double the same week last year. YTD shipments are now 2.28% larger yr/yr at 23.58 MMT (866.4 mbu).

Jul 19 CBOT Wheat closed at $4.78 1/4, up 13 1/4 cents,

Jul 19 KCBT Wheat closed at $4.34 1/2, up 14 1/4 cents,

Jul 19 MGEX Wheat closed at $5.43 1/2, up 15 3/4 cents

--provided by Brugler Marketing & Management

Wheat Higher on Weather and Exports

Wheat futures are showing 18 cent gains in the front month across all three exchanges, with deferred contracts 10 to 19 cents higher. The Southern Plains continue to see abnormal amount of rain for this time of year, causing some disease concerns in the HRW crop. Export Inspections for wheat during the week of May 16 totaled 757,704 MT. That was a 13.74% drop from the previous week but still more than double the same week last year. YTD shipments are now 2.28% larger yr/yr at 23.58 MMT (866.4 mbu). Trade ideas for spring wheat planting progress are in the 65-70% range, still lagging the 81% average for this date. Canadian planting progress has not been impacted as much. Spec traders in KC wheat futures and options trimmed back last week’s record CFTC net short position by 2,442 contracts, showing a net position of 56,424 as of May 14.

Jul 19 CBOT Wheat is at $4.83, up 18 cents,

Jul 19 KCBT Wheat is at $4.38 1/4, up 18 cents,

Jul 19 MGEX Wheat is at $5.45 3/4, up 18 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