Wheat futures are posting a Turnaround Tuesday bounce in most contracts, with winter wheat up 15 to 22 cents. MPLS is 7 to 11 cents in the green. Analysts with IEG Vantage trimmed their 2019 US all wheat planting acreage estimate to 46.722 million acres, with most of the reduction to other spring wheat acres. Winter wheat ratings were reported at 51% gd/ex in KS on Monday afternoon, up 2%, with OK 3% higher at 56%gd/ex. Ratings in TX were down 8 to 28% gd/ex. Japan’s weekly MOA tender is seeking 116,365 MT of wheat from the US, Canada, and Australia, with 35,340 MT sought from the US.
May 19 CBOT Wheat is at $4.51 1/2, up 23 cents,
May 19 KCBT Wheat is at $4.40, up 19 3/4 cents,
May 19 MGEX Wheat is at $5.54 1/4, up 8 cents
--provided by Brugler Marketing & Management