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