Wheat Markets All 3 to 4 To the Plus Side

Wheat futures are 3 to 4 cents higher in all three markets this morning after being down 8 to 15 1/4 cents in most contracts on Monday. All wheat exports for the week that ended on 7/18 were tallied at 433,117 MT via USDA’s Export Inspections report. That was a 24.27% jump from the previous week and slightly higher than that week in 2018. The spring wheat quality tour is being held this week, which should contribute to our understanding of the MPLS HRS crop. NASS reported the spring wheat crop at 76% good/ex condition, unch from the previous week with the Brugler500 up 3 points on a swing from good TO excellent. The crop was reported at 92% headed vs. the 94% average. The winter wheat harvest progressed 12% from the previous week to 69% complete but still lags the 79% average pace. Egypt is tendering for wheat, with results expected on Tuesday.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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