Wheat Market Counters Thursday Losses Overnight

After closing lower on Thursday, wheat is trading 5 to 10 cents higher this morning. KC wheat was the weakest on Thursday, losing 11 cents. May SRW wheat closed 8 1/2 cents lower. MPLS May futures were down by 5 1/2 cents at the close. Wheat export bookings from USDA marketing week 43 were only 72,900 MT (2.679 mbu). The week’s exports were also slow (3rd lowest on the MY) as only 10.05 mbu were shipped. The accumulated wheat exports through March 26 were 72.7% of the March WASDE forecast. CENSUS data from February showed that US wheat exports were 80.25 mbu, which was 17% above Jan but down 3% from February 2019.

--- provided by Brugler Marketing & Management

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