Wheat

Wheat futures are mostly 24 1/2 to 28 cents lower in the Sept contracts at midday. The soon to expire July contracts are illiquid and not included in the above ranges. Thursday morning’s Export sales report showed sales for 17/18 of 357,702 MT, on the lower side of expectations. Total sales were 12.6% larger than last year but 4.7% behind last week. US 2017/18 wheat ending stocks increased yesterday, caused by lower usage and exports. The average US farm price for 17/18 was raised a huge 50 cents per bushel to a range of $4.40-$5.20. This is the spring wheat influence. In their weekly tender, Japan purchased 62,900 MT of US wheat, with the other 30,865 MT coming from Australia. The EU wheat crop is estimated at 140.7 MMT by analysts from Strategie Grains, down 0.9MM from their previous report as hot and dry weather persists.

Sep 17 CBOT Wheat is at $5.12 1/2, down 24 1/2 cents,

Sep 17 KCBT Wheat is at $5.17 1/2, down 26 1/2 cents,

Sep 17 MGEX Wheat is at $7.54 3/4, down 28 cents




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 June and July leave you with painful grain marketing memories?
Contact Brugler TODAY to discover which of our services is the right prescription for you!
Request product samples and a quick tour of our services here.

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.