Wheat Posting Marginal Losses at Midday

Wheat futures are down 1 to 3 cents in most contracts on Tuesday, pulled down by corn and soybeans. Monday afternoon NASS reported that 57% of the winter wheat crop was harvested, 14% below the average pace. The Northern Plains are still lagging considerably, with KS now 81% harvested and OK and TX finishing up. Spring wheat was 78% headed, with conditions down 2% to 76% gd/ex and 1 point lower on the Brugler500 to 382. By state ID was the only one to show deterioration, with MN up 1, SD 6 points higher, and ND unch. Taiwan importers issued a tender to buy 90,650 MT of US wheat on Tuesday, with the venter to close 7/23.

SEP 19 CBOT Wheat is at $5.05, down 2 3/4 cents,

SEP 19 KCBT Wheat is at $4.46 1/4, down 2 3/4 cents,

SEP 19 MGEX Wheat is at $5.31, down 1 1/2 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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