Wheat futures are mostly a penny to 3 3/4 cents lower in most CBT and KC contracts on Wednesday. A few forecasts are showing rain chances across the Southern Plains in the next couple weeks. The 7-day QPF is dry. Analysts are expecting to see the old crop US ending stocks number slightly higher at 1.015 bbu in Thursday’s USDA WASDE report. World ending stocks are seen at 265.63 MMT, down a slight 0.47 MMT. The USDA Export Sales report will also be released on Thursday at 7:30 a.m. CST, with trade estimates running 200,000-500,000 MT for old crop. Last week’s report showed sales of just 191,122 MT. New crop estimates are at 0-100,000 MT.

Mar 18 CBOT Wheat is at $4.98 1/4, down 3 3/4 cents,

Mar 18 KCBT Wheat is at $5.27 1/4, down 2 cents,

Mar 18 MGEX Wheat is at $6.27 1/4, unch ,

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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


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.