Wheat Mixed on Thursday

Wheat futures are showing mixed trade on Thursday, with CBT leading the way to the upside, fractionally to 2 cents higher. KC is fractionally higher to 3 cents lower, with MPLS mostly 1 to 4 cents in the red. Some HRW areas have sustained frost damage this week, while others have snow on them. Wheat is also on the list for this round of MPF payments, with the single county rates released at a later time. All wheat export sales for the week of May 16 totaled 48,395 MT for old crop, in the range of estimates. Unshipped sales are now at 2.684 MMT with just 2 reporting weeks left in the MY. New crop sales were reported at 344,852 MT, with unknown buying 196,000 MT. Russia’s Ag Ministry expected the 2019 wheat crop to total 75 MMT, below USDA’s 77 MMT projection.

Jul 19 CBOT Wheat is at $4.73 3/4, up 1 cent,

Jul 19 KCBT Wheat is at $4.29 1/2, down 2 3/4 cents,

Jul 19 MGEX Wheat is at $5.40, down 3 3/4 cents

--provided by Brugler Marketing & Management

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