Spring Wheat Dec '19 (MWZ19)
Spring Wheat Futures Market News and Commentary
Wheat futures rallied back from midday lows of 7 1/2 cent losses, but still closed in the red. CBOT wheat ended mixed as May was 1 3/4 cents lower but the July and September contracts were 1 and 2 1/4 cents higher. Front month HRW wheat futures were UNCH in May, and 1 1/4 cents higher in the other front months. MPLS wheat futures ended lower, down 1 cent in May and 1/2 to 2 1/4 cents lower in the other nearbys. For the week ending March 29, KS winter wheat conditions were 342 on the Brugler500 Index. OK winter wheat ratings scored a 368 on the Brugler500 Index. USDA’s Export Inspections report showed 363,881 MT of wheat was shipped on the week ending 03/26. That is 9,415 MT higher wk/wk but 90,993 MT below the same week from last year. Accumulated wheat shipments are still above last year by 1.6 MMT with 20.46 MMT of wheat shipped so far this MY. MYTD wheat exports from the EU (and U.K.) was 24 MMT through 03/23. Ukraine established a 19/20 wheat export cap of 20.2 MMT, with 18 MMT... Read more
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