Wheat Mixed on Variation in US Weather Regions
BRUG - Mon Apr 15, 7:59AM CDT

Wheat futures are mixed this morning, with MPLS spring wheat up 3 to 3 1/2 cents on planting delays, while the winter wheat futures in CHI and KC are anywhere from 1 3/4 to 3 3/4 cents lower on perceptions about improved crop conditions. Those two markets came back to close 1 to 4 cents higher on Friday MPLS was down 1 to 2 1/2 cents on profit taking after rallying 12 cents from the May contract low earlier in the week. Spec traders in KC wheat futures and options trimmed their large CFTC net short position by 1,964 contracts in the week ending on April 9 to -47,793 contracts. Export commitments are now 96% of the newly updated USDA projection of 945 mbu, with the 5-year average at 102%. --Provided by Brugler Marketing & Management

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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

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.