Wheat Mostly Higher on Thursday as Spreads Widened

Wheat futures closed down 1/2 cents in the nearby HRS contract and up 3/4 cents in KC HRW on Thursday. SRW continued to widen the spread premium to HRW, up 10 1/4 cents in Sept. USDA Export Sales data showed US Exporters booking 487,672 MT of 19/20 wheat during the week of August 1, exceeding expectations. That was 27% higher than last week and 53% higher than the same week in 2018. China purchased 60,000 MT, their first wheat purchase this MY. Again, this was before the moratorium announcement and may or may not be shipped. Japan purchased 114,783 MT of wheat in their weekly MOA tender on Thursday, including 54,625 MT of US origin.

SEP 19 CBOT Wheat closed at $4.98 1/2, up 10 1/4 cents,

SEP 19 KCBT Wheat closed at $4.18 1/2, up 3/4 cent,

SEP 19 MGEX Wheat closed at $5.20 1/2, down 1/2 cent

--provided by Brugler Marketing & Management




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