Wheat Mixed at Midday
BRUG - Wed May 15, 12:25PM CDT

Wheat futures are trading 1 to 6 cents higher in the winter wheat contracts at midday, with MPLS slightly lower in the front months and deferred contracts higher. The trade range of estimates ahead of Thursday’s Export Sales report show 0-250,000 MT for old crop wheat sales in the week of 5/9. New crop is seen at 150,000-350,000 MT. Ukraine’s wheat crop for 2019 is expected to be at 26.2 MMT according to one of the country’s consultants, up 1.6 MMT from their previous number. USDA is at 29 MMT. For the first time in more than a decade, Australia is importing it’s first cargo of wheat, following tight local supplies in recent years.

Jul 19 CBOT Wheat is at $4.53 3/4, up 5 1/4 cents,

Jul 19 KCBT Wheat is at $4.10 1/4, up 1 1/2 cents,

Jul 19 MGEX Wheat is at $5.22 3/4, down 1/2 cent

--provided by Brugler Marketing & Management

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