Wheat is posting early Wednesday losses of 3 to 11 cents. The wheat complex posted weakness across the three exchanges on Tuesday. Chicago SRW contracts were 5 ¾ to 12 cents lower on Tuesday. Open interest was up 3,244 contracts, suggesting new short interest. KC HRW futures were down 4 ¼ to 8 ½ cents on the day. OI rose 2,138 contracts MPLS spring wheat saw losses of 3 ½ to 8 ¼ cents at the close
Weekly NASS Crop Progress data showed 63% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 6 percentage points. Planting pace was lagging in KS (-9%), MI (-10%), and OH (-22%). Emergence was at 39%.
