Wheat Market Commentary
cmdty Insider - BRUG - Thu Aug 30, 4:15PM CDT

Wheat futures are showing 6 to 11 3/4 cent losses in the nearby contracts at midday. This morning’s NASS Crop Production report tallied all wheat production for 2018 at 1.877 bbu, just 4 mbu smaller than the previous report. HRW was seen at 661.22 mbu, with SRW at 291.8 mbu. Production of the spring wheat crop was just slightly higher to 614.155 mbu, as yield was UNCH from July at 47.6 bpa. They disagree with the Wheat Tour. US ending stocks of 18/19 wheat were shown at 935 mbu on a 50 mbu addition to the export projection. Production of the Russian wheat crop was up 1 to 68 MMT, with private estimates from SovEcon at 68.4 MMT and IKAR at 70.1 MMT. The New Crop world ending stocks projection was cut by 1.92 to 258.96 MMT. EU production was cut 7.5 MMT (275 million bushels!). A Ukraine wheat export limit was set at 16 MMT (8 MMT in milling wheat) for the18/19 MY by the country’s ag ministry on Friday, with 17/18 exports totaling 17.2 MMT.

Sep 18 CBOT Wheat is at $5.57 1/4, down 7 1/4 cents,

Sep 18 KCBT Wheat is at $5.70 1/2, down 8 cents,

Sep 18 MGEX Wheat is at $6.18, down 11 3/4 cents

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.