KCBT Red Wheat (P) Futures PricesMonday, May 20th, 2013
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Latest Brugler KCBT Red Wheat (P) Report
Wheat futures closed between 2 and 7.75 cents higher on the day with KC wheat leading the way up. Severe storms damaged some wheat in OK and KS over the weekend, and heavy rains are expected to continue to affect eastern OK over the next 5 days. MPLS continues to get support from slow planting progress. USDA reported solid export inspections of 21.149 million bushels this morning. That was a little slower than the 23.986 million last week and 25.109 million a year ago, but still on track to hit the USDA forecast for the year. USDA indicated this afternoon that 43% of the winter wheat crop is headed, well behind the 62% average for this date. The Brugler 500 Index dropped to 273 from 278 last week. HRW condition ratings dropped further, and SRW ratings increased 5 points.
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