Wheat Closes Higher in Most Contracts
BRUG - Mon Jun 10, 5:33PM CDT

Wheat futures saw 1 to 4 cent gains in most winter wheat contracts, with MPLS within a penny on either side of UNCH in the front months. Monday’s Crop Progress report showed that 83% of the US winter wheat crop was headed as of June 9, 8% below normal. Harvest was pegged at 4% complete, shy of estimates and the 10% average. Winter wheat ratings were UNCH at 64% gd/ex, and 367 on the Brugler500 index. Spring wheat progress was indicated at 97% planted, with 85% emerged (vs, 93% avg). Ratings were shown at 81% gd/ex, down 2%, with the index rating of 388. Weekly Export Inspections data showed 464,779 MMT of US wheat shipped in the week of June 6. That was down 21.62% from the previous week but 10.77% larger than the same week in 2018. Egypt’s GASC is tendering for wheat for Mid-July delivery with results due on Tuesday, following a near two-month hiatus from the international market.

Jul 19 CBOT Wheat closed at $5.07 1/2, up 3 cents,

Jul 19 KCBT Wheat closed at $4.53, up 4 cents,

Jul 19 MGEX Wheat closed at $5.68 1/2, down 1/4 cent

--provided by Brugler Marketing & Management

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