Wheat Market News and Commentary

Wheat futures are currently 1 1/2 to 3 1/2 cents higher after closing Wednesday with 5 to 10 1/4 cent losses in most contracts. Nearby March contracts showed little volume ahead of their Thursday expirations. Allendale’s survey of producers shows projected 2019 all wheat acreage at 47.414 million acres. All wheat export sales in the week of March 7 are expected to total 400,000-600,000 MT for old crop sales and 50,000-150,000 MT for new crop. A South Korean tender for 50,000 MT of US wheat for late July/early August delivery closes today. Algeria purchased 450,000 MT of optional origin wheat in a tender on Wednesday.

--provided by Brugler Marketing & Management




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