Friday Wheat Lower at Midday

Friday winter wheat futures are on a late week sell the fact drop, down by 3 1/4 to 4 3/4 in the front months. MPLS wheat is unresponsive, with fractional midday gains. This comes after double digit gains on Thursday. Through the first half of the Marketing Year, wheat bookings averaged 472,004 MT/week, a 5.04% improvement on last year’s average through the first half. Shipments through the first half of the MY averaged 475,592 MT, compared to last year’s 391,412 MT first half average. In total export commitments are now 64% of the USDA’s 975 mbu export projection, which is lagging the normal 75% pace and 68% last year.

Mar 20 CBOT Wheat is at $5.27 1/4, down 3 cents,

Mar 20 KCBT Wheat is at $4.38 1/2, down 4 1/4 cents,

Mar 20 MGEX Wheat is at $5.22 3/4, down 1/4 cent,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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