Wheat Posts a Turnaround Tuesday Bounce

Wheat futures saw most contracts steady to 3 1/2 cents higher on Turnaround Tuesday. Individual state winter wheat condition ratings from Monday showed KS down 4 points, with OK, IL, and IN also seen lower. The spring wheat crop has yet to be planted in MN and ND according to NASS data, well behind their respective 24% and 12% averages. Taiwan purchased 109,175 MT of US wheat in their recent tender on Tuesday. SovEcon did trim their Russian wheat exports for 18/19 by 0.2 MMT to 34.9 MMT.

May 19 CBOT Wheat closed at $4.38 3/4, up 3 cents,

May 19 KCBT Wheat closed at $4.14 1/2, up 2 3/4 cents,

May 19 MGEX Wheat closed at $5.11 1/4, up 2 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.