Wheat futures finished Monday mixed on all exchanges. CBT was a 1 to 1 3/4 cents higher in the nearby contracts, while KC and MPLS were a penny and 3 1/4 cents lower respectively. The weekly export inspections report showed wheat exports down 7.75% from last week at 801,725 MT, but still 29.37% larger than last year. Winter wheat harvest is in full swing across the southern plains, as it was 28% complete on Sunday. That is ahead of the average of 25% and last year’s 23%. Conditions for the winter wheat crop were down 1% to 49% g/e, with the Brugler500 index down 1 point at 336. The spring wheat crop was 15% headed as of Sunday, vs. 25% last year and the average of 17%. Condition ratings fell another 4% to 41% g/e in this week’s report with the Brugler500 index at 311, vs. 325 last week.

Jul 17 CBOT Wheat closed at $4.67, up 1 3/4 cents,

Jul 17 KCBT Wheat closed at $4.72 1/2, down 1 cent,

Jul 17 MGEX Wheat closed at $6.39 1/2, down 3 1/4 cents

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

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