Wheat is trading with mostly lower action on Tuesday. Chicago SRW contracts are 5 to 8 cents in the red so far on the session. KC HRW futures are down 9 to 10 ½ cents in the front months. MPLS spring wheat is showing fractionally mixed trade at midday.
This week’s NASS Crop Progress report showed 96% of the US winter wheat crop harvested by Sunday, 2% ahead of the normal pace. The spring wheat crop was 41% harvested, ahead of the 34% 5-year average pace. Spring wheat conditions were up 1% at 52% gd/ex, with the Brugler500 index back up 5 points to 344. The only states with dropping conditions were MT (-3) and WA (-5), with ID (+8), ND (+5), MN (+4) seeing improvement.
EU soft wheat exports since July 1 have totaled 1.48 MMT to 8/16 according to the European Commission, which is lagging the 2.9 MMT total in the same period last year.
Sep 26 CBOT Wheat is at $6.66 3/4, down 8 cents,
Dec 26 CBOT Wheat is at $6.83 1/2, down 5 3/4 cents,
Sep 26 KCBT Wheat is at $7.48 1/4, down 10 1/2 cents,
Dec 26 KCBT Wheat is at $7.62 3/4, down 9 cents,
Sep 26 MIAX Wheat is at $6.75 1/2, up 1/2 cent,
Dec 26 MIAX Wheat is at $7.02 1/2, down 1/2 cent,
