Wheat Higher on Strength in Corn
BRUG - Tue May 14, 12:26PM CDT

Wheat futures are showing 4 to 9 cent gains in most contracts, with spillover buying from corn. USDA showed 42% of the winter wheat crop headed as of Sunday, behind the 54% average. Conditions on the Brugler500 Index were 3 points higher to 369. Spring wheat planters managed to find some dry ground last week with progress moving 23% to 45% complete by Sunday. MN was reported at 35% planted, with ND at 37% and SD 46% complete, all making decent progress from the week prior. Rains forecast in those areas on the 5-day QPF may slow progress. Acreage estimates from IEG Vantage show US spring wheat at 12.4 million acres for 2019, down 470,000 acres from USDA.

Jul 19 CBOT Wheat is at $4.44, up 7 cents,

Jul 19 KCBT Wheat is at $4.05 3/4, up 8 3/4 cents,

Jul 19 MGEX Wheat is at $5.22 1/2, up 4 1/2 cents

--provided by Brugler Marketing & Management




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