Wheat futures are showing 1 to 4 cent losses in most contracts, with KC the strongest. Pressure is being felt from a stronger US dollar, up 562 points at the moment. The USDA reported all wheat shipments during the week of 1/25 at 515,145 MT. That was 39.71% above last week and 58.92% larger than last year. Egypt’s GASC’s recent tender for mid-March delivery saw 180,000 MT of Russian wheat purchased. Russia’s IKAR is projection the Russian exports during 18/19 will total 32-36 MMT, as total production is seen at a wide range of 73-82 MMT.

Mar 18 CBOT Wheat is at $4.48 1/4, down 2 3/4 cents,

Mar 18 KCBT Wheat is at $4.65 3/4, down 1 1/4 cents,

Mar 18 MGEX Wheat is at $6.08, down 3 3/4 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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