Futures - Wheat (P)Tuesday, May 21st, 2013
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Latest Brugler Wheat (P) Report
Wheat futures are currently trading 8 to 10 lower in Chicago and KC, but higher in the July Minneapolis contract. USDA reported that 67% of the spring wheat crop is now planted, gaining on the 76% average pace for this date. Given wet current conditions and a wet 6-10 day forecast for the northern US, there are concerns about getting the last 33% of the crop in the ground. USDA indicated that 43% of the winter wheat crop is headed, well behind the 62% average for this date. The Brugler 500 Index dropped to 273 from 278 last week. EU wheat futures are trading lower today, due to improved growing weather. Japan is tendering for 122,222 MT of milling wheat this week, of which 67,897 MT is specified US origin white, HRW and DNS wheat.
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