Spring Wheat May '19 (MWK19)
Spring Wheat Futures Market News and Commentary
Wheat futures settled Tuesday with 4 to 6 1/2 cent losses in the front months. The weekly Crop Progress report showed 94% of the spring wheat crop was harvested by 10/13, a move of just 3% on the week (we are normally complete by now). Heavy snowfall last week likely limited harvest activity and will make it harder for getting the remaining 7% of the crop in ND out. Some may be abandoned due to heavy snow and poor quality to begin with. Winter wheat planting was 65% complete, matching the normal pace, and 41% emerged. USDA indicated 462,651 MT of wheat was inspected for export during the week ending in 10/10, with 29% of the weekly exports HRS. The MY to date total for wheat exports is 8.907 MMT, which is 17% ahead of last year’s 7.366 MMT total for the same period. Egypt’s GASC is tendering for another round of wheat, this time for late November delivery. The tender will close tomorrow, with US still not price competitive with other origins to that destination. DEC 19 CBOT Wheat closed at $5.07, down 4 cents, DEC 19 KCBT Wheat closed at $4.21 1/4, down 4 1/2 cents, DEC 19 MGEX Wheat closed at $5.45 1/2, down 6 1/2 cents --provided by Brugler Marketing & Management
- Morning Grain Market Comments
While it is difficult to say if it is just a case of Tuesday Undo action in the grain and soy markets, but we are experiencing a swoon in prices overnight....
- Grains Report 10/15/19
DJ CBOT Delivery Intentions: Totals – Oct 15 Source: CME Group Contract Quantity Next Trade Commodity Month Delivery Day Assigned Today Date [...]
If I had to pick out a few....