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

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.