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Wheat P May '14 (WK14)

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Brugler report

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Tue Jan 23, 7:28AM CST
Wheat futures are trading 2 to 2 lower this morning in the Chicago and KC contracts. MPLS spring wheat is fractionally higher. They were 3 to 4 cents higher in most CBT contracts yesterday, with KC 1 to 2 cents higher. MPLS had been steady to 1 1/2 cents lower in most contracts. The USDA Export Inspections report indicated 337,980 MT in wheat exports for the week of January 18. That was an increase of 16.96% from the same week in 2017 but lagged last week by 8.60%. During the 17/18 MY, 15.475 MMT of wheat has been inspected for export, 6.08% behind last year. All wheat export commitments are 75% of the full year export projection by the USDA. The average for this time of year is 81%, with last year running 82%.
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