Wheat Market News and Commentary

Wheat futures closed Wednesday with 5 to 10 1/4 cent losses in most contracts. Nearby March showed low volume ahead of Thursday’s expiration. Allendale’s survey or producers shows projected 2019 all wheat acreage at 47.414 million acres. Yesterday, Vantage indicated a tighter 46.722 million acres. All wheat export sales in the week of March 7 are expected to total 400,000-600,000 MT for old crop sales and 50,000-150,000 MT for new crop. A South Korean tender for 50,000 MT of US wheat for late July/early August delivery will close on Thursday. Algeria purchased 450,000 MT of optional origin wheat in a tender on Wednesday.

May 19 CBOT Wheat closed at $4.47 1/4, down 5 3/4 cents,

May 19 KCBT Wheat closed at $4.36 3/4, down 6 cents,

May 19 MGEX Wheat closed at $5.50 1/2, down 10 1/4 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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