Wheat Lower on Monday, NASS Shows Slower Harvest Progress After Close

Wheat futures settle Monday with 10 to 18 1/4 cent losses across the three exchanges. This afternoon, NASS reported that 57% of the winter wheat crop was harvested, a move of just 10% from last week and 14% below the average pace. Spring wheat was 78% headed, with conditions down 2% to 76% gd/ex and 1 point lower on the Brugler500 to 382. Weekly wheat shipments were reported at 315,373 MT for the week of July 11 via USDA’s Export Inspections report. That was slightly above half of the previous week and down 34.45% from the same week in 2018. Russia’s IKAR trimmed the country’s wheat production estimate by another 1 MMT to 77.5 MMT.

SEP 19 CBOT Wheat closed at $5.07 3/4, down 15 1/4 cents,

SEP 19 KCBT Wheat closed at $4.49, down 18 1/4 cents,

SEP 19 MGEX Wheat closed at $5.32 1/2, down 10 1/4 cents

--provided by Brugler Marketing & Management

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