Wheat Markets 1 to 3 Cents Higher as HRW Leads

Thursday trading in wheat begins with prices 1 to 3 cents higher. KC HRW is again the firmest. Kansas City HRW futures ended yesterday with gains of 3 1/2 to 4 3/4 cents. SRW and HRS wheat futures were lower at the closing bell. CBT wheat was down 1 3/4 to 2 1/2 cents and MGE wheat closed down by as much as 4 1/2 cents. Through May 24, 81% of 2020/21 spring wheat was planted, which was faster than trade estimates (~70%) but still behind the 5-year average. Spring wheat emergence was at 51%, compared to the 5-yr average of 65%. Also in the report, winter wheat was 68% headed, with ratings improving 2 points on the Brugler500 index wk/wk to 341. Winter wheat harvest in Texas was 27% completed as of Sunday, well ahead of the 12% 5-year average pace.

--- provided by Brugler Marketing & Management




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