Wheat Market News and Commentary

Wheat futures are currently 1 to 3 cents lower across the three contract markets. They ended the Friday session with most winter wheat contracts steady to 4 cents higher. MPLS was down 1 to 3 3/4 cents. On the week, May CBT was down 3.88%, with KC 3.15% lower and MPLS 1.61% in the red. USDA added another 45 mbu to their 18/19 US wheat ending stocks projection, with a 35 mbu reduction to exports.. The World carryout projection was raised by 3 MMT to 270.53 as well, with Indian stocks up 2.9 MMT. The Friday afternoon Commitment of Traders report indicated money managers in CBT futures and options added 13,882 contracts to their net short position of 72,449 contracts as of March 5. In KC wheat futures and options, they bumped their record net short position up to -44,870 contracts.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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