WHEAT
Wheat futures closed mixed. Lower financial and energy markets may have triggered some fund short covering in wheat. Wheat futures are oversold and due for a correction. Estimates of an increase in World 2019 wheat production and end stocks could limit the upside in prices. Rains forecast for US south plains could help crops there. Wet/cold weather could delay US spring wheat plantings. Weekly US wheat export sales were near 15 mil bu. Total commit is near 931 mil bu (+76) vs 855 last year. USDA goal is 945 (+44) versus 901 last year. USDA estimates World wheat trade near 6,550 mil bu.
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