Wheat Futures in Black at Midday

Front month wheat futures are recovering from yesterday’s losses. Chicago futures are up by 7 1/4 to 8 cents. KC HRW futures are trading with midday gains of 7 3/4 to 8 3/4 cents. Spring wheat futures are up by 4 1/2 to 7 1/2 cents at midday. The weekly Export Sales report noted 357,900 MT of wheat booked on the week ending August 6. That was down 39% wk/wk and 20% below the same week last year. Accumulated commitments through the first 10 weeks are 7.78% ahead of last year’s pace. The August WASDE has 975 mbu of wheat to be exported this MY. That increased the U.S. market share 0.29 ppts yr/yr to 14.12% of the global export supply. That shift came mainly via EU and Ukraine, which are forecasted with 14% and 9.5% market shares respectively. Egypt is tendering for wheat again, with results expected later today.

Sep 20 CBOT Wheat is at $4.99, up 7 3/4 cents,

Sep 20 KCBT Wheat is at $4.26 1/2, up 8 3/4 cents,

Sep 20 MGEX Wheat is at $4.99 1/2, up 7 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.