Wheat Rebounds on Thursday

Wheat futures closed Thursday with most contracts 9 to 19 1/4 cents higher. The nearby CBT-KC spread closed at the largest premium on record to CBT of 54 3/4 cents on Thursday. All wheat export booking in the week that ended May 30 (also the final full week of the MY) were tallied at a net reduction of just 25,983 MT for old crop. Unshipped sales remained at 1.628 MMT, with just 1 shipping day left. New crop sales were at a MY high 501,893 MT in that week. Census Trade data for April shows US exporters shipped 2.83 MMT (103.98 mbu) of wheat in that month, a MY high. That was a 6-year high for April and 44.46% above March, with the YTD total at 813 mbu and just May data remaining. Japan purchased a total of 77,042 MT of Australian and US (58,157 MT) wheat in their weekly MOA tender.

Jul 19 CBOT Wheat closed at $5.10, up 19 1/4 cents,

Jul 19 KCBT Wheat closed at $4.55 1/4, up 9 1/2 cents,

Jul 19 MGEX Wheat closed at $5.65, up 18 cents

--provided by Brugler Marketing & Management

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