Wheat Market News and Commentary

Wheat futures ended the Monday session mixed, as MPLS was down 1 1/4 to 1 1/2 cents higher in most contracts. CBT was down 2 1/2 cents to 1/2 cent higher, with KC steady to up 1 1/2 cents. All wheat export inspections were reported at 538,808 MT for the week that ended on April 8. That was up 18.6% from the week prior and 24.76% larger than the same week in 2018. The weekly Crop Progress report from NASS indicated that just 1% of the spring wheat crop was planted as of 4/7, shy of the 5% average. Wet and cold weather this week are expected to delay planting even further. The winter wheat crop was 3% headed on Sunday, lagging the 4% average. Conditions rose 4% to 60% gd/ex, or 361 on the Brugler500 rating. That is well above this time last year and up 5 points from last week.

May 19 CBOT Wheat closed at $4.65 1/4, down 2 1/2 cents,

May 19 KCBT Wheat closed at $4.31 1/2, up 1/4 cent,

May 19 MGEX Wheat closed at $5.24, up 1 1/2 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
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E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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