Wheat Market News and Commentary
BRUG - Fri Apr 12, 7:30AM CDT

Wheat futures are 1/2 to 2 1/2 cents higher in the Chicago and KC contracts to start your Friday. MPLS spring wheat saw a little profit taking in thin overnight trade and is down 1 3/4 cents. Most contracts were 2 to 5 cents higher on Thursday. Heavy snow accumulations in the North are pushing back planting into May for much of the Spring Wheat area. All old crop wheat export sales for the week that ended on April 4 were reported at 272,965 MT by the USDA. That was more than double the same week in 2018. With the sales improving vs. year ago, total commitments are now 6.8% above this week in 2018. Egypt’s GASC is tendering for wheat for late May/early June, with results expected later today. Algeria’s latest round of buying saw a purchase of at least 330,000 MT of wheat, with some traders hinting that it could be upwards of 540,000 MT. French wheat is typically the origin due to lower freight costs, though US has been competitive.

--Provided by Brugler Marketing & Management




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