Wheat futures are currently steady to a penny higher in the CHI and KC contracts, with MPLS spring wheat up 3 to 4 cents. The Monday session ended with most contracts steady to 7 cents lower. Wheat inspections for export totaled 446,957 MT for the week of September 7, 53.74% larger than last week but 39.93% behind last year. The USDA Crop Progress report showed 95% of the spring wheat crop harvested, 8% above the average. Analysts in the big surveys are expecting the USDA will adjust the world wheat carry over slightly lower. They are projecting 264.3 MMT in 17/18 world ending stocks. Russian numbers are expected to be higher, with Australia lower. Australian 2017/18 wheat production was lowered to 21.6 MMT by the country’s ABARE agency.

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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


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.