Wheat End Monday Lower

Wheat futures were down 3 to 5 1/4 cents in the nearby contracts on Monday. The weekly Crop Progress report from NASS showed 93% of the winter wheat crop harvested as of August 18, a 4% move on the week and 5% below normal. The spring wheat crop was shown at 16 % harvested, with the normal pace at 49%. Condition ratings were tallied at 70% gd/ex, up 1 from a week ago, as the Brugler500 index was up 2 point to 374. All wheat shipments during the week that ended on August 15 totaled 488,905 MT according to Export Inspections data. That was down 32% from the previous week and slightly higher than the same week a year ago. Morocco is seeking 576,000 MT of milling wheat and 345,455 MT of US durum wheat a under preferential tariff quota in a tender due on September 5.

SEP 19 CBOT Wheat closed at $4.65 1/2, down 5 1/4 cents

SEP 19 KCBT Wheat closed at $3.91 1/4, down 3 cents,

SEP 19 MGEX Wheat closed at $5.05 1/2, down 3/4 cent

Market Commentary provided by:

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