Wheat Higher on Friday
BRUG - Fri May 17, 12:30PM CDT

Wheat futures are posting 2 to 8 cent gains in most contracts on Friday. Support is coming from strength in corn and weather forecasts that shows delayed planting for HRS areas. Moisture issues in SRW and part of HRW country are also beginning to worry traders about protein readings and fungal problems like scab, vomitoxin and fusarium. Total unshipped US wheat sales now account for 3.517 MMT, with just 3 reporting weeks left in the MY, as total commitments are up 8.8% from last year. Those export commitments are 103% of the updated USDA projection, with 105% the average.

Jul 19 CBOT Wheat is at $4.71 1/2, up 4 1/2 cents,

Jul 19 KCBT Wheat is at $4.24 1/4, up 7 1/2 cents,

Jul 19 MGEX Wheat is at $5.33 1/2, up 6 3/4 cents

--provided by Brugler Marketing & Management




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