Wheat futures are mostly 1 to 3 1/2 cents higher in the nearby CBT and MPLS contracts, with KC leading the way up 5 to 6 cents. The March KC contract hit a 6 week high this morning. Frigid temperatures across the Plains this past weekend are supportive, but impacts from the sub-zero temps won’t be fully known until Spring. Ukraine grain exports from July to December totaled 21.36 MMT according to their Ag Ministry, which is 10% lower than the same time the previous year. Of that total export amount, 11.2 MMT consisted of wheat.

Mar 18 CBOT Wheat is at $4.36, up 2 1/2 cents,

Mar 18 KCBT Wheat is at $4.40 3/4, up 6 cents,

Mar 18 MGEX Wheat is at $6.21 1/2, up 3 1/2 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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