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Wheat Market Higher on Good Export Sales Data

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Wheat futures are posting 8 to 16 cent gains in most contracts on Thursday, with the winter wheat markets leading the way. All old crop wheat export sales in the week of May 9 were reported at 114,478 MT. That was 81.55% larger than the same week last year, with Indonesia buying 88,500 MT of that. New crop sales were reported at 419,375 MT, above the rage of estimates and a MT high. Total forward 19/20 sales are now at 2.977 MMT, up 44.66% from a year ago at this time.

Jul 19 CBOT Wheat is at $4.64 1/2, up 15 3/4 cents,

Jul 19 KCBT Wheat is at $4.16 1/2, up 14 1/2 cents,

Jul 19 MGEX Wheat is at $5.24 3/4, up 9 1/2 cents

--provided by Brugler Marketing & Management

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