Wheat Double Digits Higher in KC and CHI

Wheat futures were up 7 1/2 to 13 cents per bushel across the three markets today. KC HRW was the strongest, with MPLS exhibiting the most single digit gains. The weekly Export Inspections report indicated that 406,386 MT of wheat was shipped in the week of June 20. That was a 6.28% rise from last week and 11.54% larger than the same week in 2018. Condition ratings declined vs. last week for both winter wheat and spring wheat, with the latter 75% good or excellent vs. 77% a week earlier. Maturity continues to lag, with winter wheat 94% heading vs. 99% average, and spring wheat 7% vs. 29%. Winter wheat harvesting is 15% completed vs the 34% average for this week. Taiwanese importers purchased 83,200 MT of wheat from the US on Monday.

Jul 19 CBOT Wheat closed at $5.38, up 12 cents,

Jul 19 KCBT Wheat closed at $4.65 1/2, up 13 cents,

Jul 19 MGEX Wheat closed at $5.43 1/2, up 7 1/2 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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