The wheat complex are mixed across the board on Tuesday. Chicago SRW futures are 1 to 3 cents higher on Tuesday. KC HRW futures are fractionally lower at midday. MPLS spring wheat futures are continuing strength, up 4 to 9 ½ cents.
USDA released their Crop Progress report this morning showing the winter wheat crop at 92% planted, lagging the 95% average pace. Emergence was at 79%, behind the 84% 5-year average. Condition ratings were pegged at 45% in good/excellent ratings, which was down from 49% last year. That equated to 328 on the Brugler500 index, down from 338 a year ago.
Dec 25 CBOT Wheat is at $5.46 3/4, up 2 1/2 cents,
Mar 26 CBOT Wheat is at $5.60, up 1 1/2 cents,
Dec 25 KCBT Wheat is at $5.28 1/4, down 1/2 cent,
Mar 26 KCBT Wheat is at $5.44 1/4, down 1/2 cent,
Dec 25 MGEX Wheat is at $5.83 1/4, up 9 1/2 cents,
Mar 26 MGEX Wheat is at $5.85 1/4, up 4 cents,
