Wheat futures are 4 to 5 cents higher in most winter wheat contracts with MPLS steady to 2 cents higher. Even with the lower sales total last week, commitments are now 3% above a year ago. They are 87% of the USDA projected total (revised lower last week), with the 5-year average pace at 97%. Tunisia, Bangladesh and Algeria have also been drawn into the market by the recent price decline. Ukraine exporters have shipped 7.7 MMT of milling wheat, which is near the milling wheat export quota of 8 MMT, with the total wheat quota at 16 MMT.
May 19 CBOT Wheat is at $4.58 1/2, up 5 3/4 cents,
May 19 KCBT Wheat is at $4.41 1/2, up 5 cents,
May 19 MGEX Wheat is at $5.53 1/2, up 1 cent
--provided by Brugler Marketing & Management