Wheat Market News and Commentary

Wheat futures are 2 to 4 cents higher this morning in all three US futures markets. They posted losses of 8 to 11 cents in most winter wheat contracts on Monday. This was net new selling, with Chicago preliminary open interest up 3,985 contracts. MPLS spring wheat was down 2 to 5 cents. The nearby HRS-HRW spread is the largest in over a year (Feb 2018) at $1.36 1/2 as snow cover and cold temps in the Northern Plains are causing doubts about spring wheat acres. All wheat export shipments during the week of March 7 totaled 592,001 MT, which was up 21.1% from the week prior and 38.06% larger than the same week last year. Egypt’s Supply Minister indicated that he wants origins of wheat imports diversified after rejecting a Romanian cargo on quality issues. French FOB prices were down ~1.3% on Monday, with the Matif futures a few ticks lower.

--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.