Wheat Helped by Strength in Corn
BRUG - Tue May 14, 5:19PM CDT

Wheat futures closed the Tuesday session with most winter wheat contracts 10 to 12 cents higher, as MPLS was up 3 to 5 1/4 cents. Double digit gains in corn helped to support the wheat complex. USDA showed conditions in KS down 1 point, with OK up 9 and TX improving 2 points from the week prior. Most SRW states saw lower ratings. Spring wheat planters managed to find some dry ground last week with MN reported at 35% planted, with ND at 37% and SD 46% complete, all making decent progress from the week prior. Rains forecast in those areas on the 5-day QPF may slow progress. Acreage estimates from IEG Vantage show US spring wheat at 12.4 million acres for 2019, down 470,000 acres from the March Planting Intentions report.

Jul 19 CBOT Wheat closed at $4.48 1/2, up 11 1/2 cents,

Jul 19 KCBT Wheat closed at $4.08 3/4, up 11 3/4 cents,

Jul 19 MGEX Wheat closed at $5.23 1/4, up 5 1/4 cents

--provided by Brugler Marketing & Management

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