Thirty Cent Monday Giveback for Wheat
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 ZWN21 - Wheat
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The first trade day of the week saw wheat futures give back most of last week’s gains. Spring wheat futures were the weakest on Monday with losses of more than 5%. CBT SRW contracts closed down by 30 1/2 to 31 1/4 cents. KC HRW futures gave back 32 1/4 to 33 1/4 cents on the day. 

USDA’s NASS reported spring wheat planting was 70% finished as of May 9. That compares to 49% complete last week and the 5-yr average to be 51% complete. Planting advanced the fastest in MN, where farmers went from 72% planted last week to reaching 97% of expected area. Spring wheat emergence was reported at 29%, compared to the 5-yr average of 29%. Emergence in SD was 60% compared to the 41% average. 

NASS reported 38% of the winter wheat crop was headed by 5/9. That is behind the 5-yr average of 46%, as TX and KS pull down the average. Only 28% of winter wheat in KS was headed, compared to the 46% average, and in TX 76% of the crop had headed which is behind the average 83%. As far as condition ratings, the Brugler500 index read 333 for national conditions, which is up 4 points on the week. California and Oregon were significantly worse, though TX conditions were up 28 points to 299. 

USDA’s weekly Export Inspections report showed 545,587 MT of wheat was shipped during the week of 5/6. HRW was the top variety, encompassing 49% of the total. 

Cash SRW Wheat  was $7.04 1/4, down 31 1/8 cents,

Jul 21 CBOT Wheat  closed at $7.30 1/2, down 31 1/4 cents,

Cash HRW Wheat  was $6.73 1/1, down 33 1/4 cents,

Jul 21 KCBT Wheat  closed at $7.03 1/2, down 33 1/4 cents,

Jul 21 MGEX Wheat  closed at $7.53 1/4, down 44 1/4 cents,




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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