Wheat Mixed on Wednesday

Wheat futures are trading 3 to 9 cents higher in the winter wheat contracts at midday, with MPLS steady to 3 ¼ cents lower. SRW keeps extending their premium to HRW, now at 63 3/4 cents as rains in the ECB are causing further issues with an already below normal condition SRW crop. Forecasts for the eastern half of the Southern Plains show heavy rainfall totals, also supporting the HRW market. The USDA left their old crop US cash average prices UNCH @ $5.20 yesterday, with new crop up 40 cents from last month to $5.10. For the world numbers WOAB raised Russian new crop production by 1 to 78 MMT, with domestic use and exports also up 1 MMT. Ukraine’s production estimate was also up 1 to 30 MMT.

Jul 19 CBOT Wheat is at $5.25 3/4, up 7 3/4 cents,

Jul 19 KCBT Wheat is at $4.62, up 4 1/2 cents,

Jul 19 MGEX Wheat is at $5.66 1/4, down 3 1/4 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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


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.