Wheat Market News and Commentary
BRUG - Wed Feb 06, 12:17PM CST

Wheat futures are fractionally to 1 3/4 cents lower in the front months at midday, with deferred contracts steady to 4 cents higher. Updated trade estimates from a Reuters survey show estimated winter wheat acreage at 32.128 million acres, 407,000 acres below last year. Most of that is expected from HRW, down 354,000 acres at 22.579 million acres. US wheat exports in November were tallied at 1.72 MMT (63.19 mbu) according to Census data. That was down 9.69% from October but up 16.7% from the year prior. Russia exported a total of 43.67 MMT of wheat in the 2018 calendar year, which was 33.12% larger than in 2017. French wheat exports outside of the EU are projected at 8.85 MMT in 18/19 by FranceAgriMer, up slightly from the prior number of 8.7 MMT.

Mar 19 CBOT Wheat is at $5.26 3/4, down 1/2 cent,

Mar 19 KCBT Wheat is at $5.09 3/4, down 1 1/2 cents,

Mar 19 MGEX Wheat is at $5.73 1/2, down 1 1/2 cents

--provided by Brugler Marketing & Management

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