Wheat futures ended the Monday session with 15 cent gains in the nearby CBT contracts, as KC HRW was up 12 to 15 cents. MPLS was the weakest, but still managed to be 6 to 7 cents higher on the day. This morning’s Export Inspections report showed 487,902 MT of wheat shipped for the week that ended 2/8. That was 13.57% above the last week and nearly 50.22% larger than the same time last year. All wheat export commitments are now 81.02% of the newly updated USDA export projection. The average is 87% for that week, with last year hitting 89% at this time. Australia made the lowest offer in Iraq’s recent tender, with the offers to remain valid until Thursday.

Mar 18 CBOT Wheat closed at $4.64, up 15 cents,

Mar 18 KCBT Wheat closed at $4.77 1/2, up 12 cents,

Mar 18 MGEX Wheat closed at $6.10, up 6 1/2 cents

Market Commentary provided by:

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