Wheat Mostly Higher on Large Export Shipments
BRUG - Mon May 13, 12:11PM CDT

Wheat futures are 6 to 9 cents higher in the winter wheat contracts on Monday, with MPLS down 1 1/4 to 1 cent higher. The weekly Export Inspections report showed a robust 842,418 MT of wheat shipped in the week of May 9. That was 56.73% larger wk/wk and 80.40% above the same week last year. Trade ideas for tonight’s report have spring wheat planting 34-37% complete vs. the five-year average of 70% done. Spec traders in the KC wheat futures and options market extended their record large net short to 58,866 contracts as of Tuesday. Analysts expect this afternoon’s Crop Progress report to show spring wheat at 34-36% planted compared to the 70% average.

Jul 19 CBOT Wheat is at $4.33, up 8 1/4 cents,

Jul 19 KCBT Wheat is at $3.94 1/2, up 7 1/2 cents,

Jul 19 MGEX Wheat is at $5.15 3/4, down 1 1/4 cents

--provided by Brugler Marketing & Management




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