Wheat Higher on Turnaround Tuesday

Wheat futures are showing steady to 4 3/4 cent gains in most contracts on Tuesday. After the Monday close, NASS showed winter wheat conditions improving 2% to 62% gd/ex and up 5 points on the Brugler500 index to 366. That’s the highest rating since 2010 for this date. The crop was 9% headed, vs. the 18% average for this date and 12% last year. The spring wheat crop was 5% planted. That was well below the 22% average but above 3% from last year. Taiwan purchased 109,175 MT of US wheat in their recent tender on Tuesday. SovEcon did trim their Russian wheat exports for 18/19 by 0.2 MMT to 34.9 MMT.

May 19 CBOT Wheat closed at $4.39, up 3 1/4 cents,

May 19 KCBT Wheat closed at $4.13, up 1 1/4 cents,

May 19 MGEX Wheat closed at $5.14, up 4 3/4 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.