Wheat futures are showing 2 to 6 cent losses in most contracts on Monday, with nearby MPLS a penny higher. The USDA reported a private export sale of 128,000 MT of HRW to Nigeria this morning through their daily reporting system. Another sale of 120,000 MT SRW was reported to Egypt, which was known from GASC’s tender on Friday. This morning’s USDA Export Inspections report indicated that 562,307 MT of all wheat was exported in the week of 2/7. That was up 27% from the previous week and 12.5% larger than this time in 2018. The 36 mbu jump in projected 18/19 US carry out on Friday was due to a 30 mbu decrease to feed and residual and 6 mbu lower for seed usage.
Mar 19 CBOT Wheat is at $5.14 1/4, down 3 cents,
Mar 19 KCBT Wheat is at $4.89, down 5 1/4 cents,
Mar 19 MGEX Wheat is at $5.69 1/2, up 1 cent
--provided by Brugler Marketing & Management