Wheat Settle Higher on Large Export Shipments
BRUG - Mon May 13, 5:22PM CDT

Wheat futures posted 8 to 12 1/4 cent gains in most winter wheat contracts on Monday, with MPLS 1 to 5 cents 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! USDA showed 42% of the winter wheat crop headed as of Sunday, behind the 54% average. Conditions were steady with last week at 64% gd/ex, with 3% moving from good to excellent. That pushed the Brugler500 Index 3 points higher to 369. Spring wheat planting managed to find some dry ground last week with progress moving 23% to 45% complete by Sunday. That was above estimates, yet shy of the average at 67% and last year’s 54%. The crop was shown 10% emerged, well behind the normal pace of 34%.

Jul 19 CBOT Wheat closed at $4.37, up 12 1/4 cents,

Jul 19 KCBT Wheat closed at $3.97, up 10 cents,

Jul 19 MGEX Wheat closed at $5.18, up 1 cent

--provided by Brugler Marketing & Management

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