Wheat Market News and Commentary

Wheat futures are posting 5 to 10 cent gains in most contracts at Friday’s midday. Ahead of next Tuesday’s Stats Canada report, Traders estimate that all wheat stocks on Dec 31 were at 23.4 MMT. That would be slightly lower than the 23.771 MMT last year. SovEcon, a Russian ag consultancy, raised their 2019 wheat production estimate by 2.7 MMT to 80 MMT on Friday. That is well above the Russian Ag Ministry’s projected 67 MMT production total.

Mar 19 CBOT Wheat is at $5.24 1/2, up 8 cents,

Mar 19 KCBT Wheat is at $5.08 3/4, up 9 3/4 cents,

Mar 19 MGEX Wheat is at $5.75, up 5 cents

--provided by Brugler Marketing & Management

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