Wheat Markets 3 to 7 Higher on Quality Issues
BRUG - Wed May 15, 7:31AM CDT

Wheat futures are 3 to 7 cents higher this morning. They closed the Tuesday session with most winter wheat contracts 10 to 12 cents higher, as MPLS was up 3 to 5 1/4 cents. Double digit gains in corn helped to support the wheat complex. USDA showed conditions in KS down 1 point, with OK up 9 and TX improving 2 points on the Brugler500 index from the week prior. Most SRW states saw lower ratings. Spring wheat planters managed to find some dry ground last week with MN 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 the March Planting Intentions report

--provided by Brugler Marketing & Management




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