Wheat Market 3 to 7 Cents Lower This Morning

The wheat markets are 3 to 7 cents lower this morning after closing mostly higher on Tuesday. Chicago is down the most, with MPLS spring wheat the firmest of the three. Yesterday, KC HRW wheat led the gains, with the front months 6 1/4 to 7 1/4 cents higher. CBOT wheat was lower in May but 4 1/4 and 6 1/4 cents higher in the other nearbys. Spring wheat futures were 3 1/2 to 4 1/2 cents higher in the front months. Wheat planting intentions for the 2020/21 crop are 44.655 MA. That is down 503,000 acres from last year. The largest nominal winter wheat planting increase yr/yr was in TX; with 300,000 acres more than the 2019/20 crop. Montana winter wheat plantings totaled 1.6 MA which was the largest decrease yr/yr. March 1 wheat stocks were 181 mbu below last year, with the USDA Grain Stocks report showing 1.412 bbu.

--- provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.