Wheat Mostly Lower on Thursday

Wheat futures settled Thursday with MPLS contracts 7 to 9 1/2 cents lower, as KC was down 1 to 7 cents. CBT was down 1 to 2 1/2 cents in the front months but saw gains in the deferred contracts. Wheat is also on the list for this round of MPF payments, with the single county rates released at a later date. All wheat export sales for the week of May 16 totaled 48,395 MT for old crop, in the range of estimates. Unshipped sales are now at 2.684 MMT with just 2 reporting weeks left in the MY. New crop sales were reported at 344,852 MT, with unknown buying 196,000 MT. Russia’s Ag Ministry expected the 2019 wheat crop to total 75 MMT, below USDA’s 77 MMT projection.

Jul 19 CBOT Wheat closed at $4.70 1/4, down 2 1/2 cents,

Jul 19 KCBT Wheat closed at $4.25 1/4, down 7 cents,

Jul 19 MGEX Wheat closed at $5.34 1/4, down 9 1/2 cents

--provided by Brugler Marketing & Management




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