The wheat complex was mixed on Tuesday, with the spring wheat market holding up and winter wheats on the weaker side. Chicago SRW contracts was mixed, with front months down 1 to 10 ¼ cents and deferreds fractionally to 2 cents higher. KC HRW futures was the weakest of the wheat markets, with contracts down 5 ¼ to 15 cents at the close. MPLS spring wheat was the firmer of the three exchanges, with contracts fractionally to 1 ¼ cents higher across most months.
This week’s NASS Crop Progress spring wheat conditions 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 closed at $6.64 1/2, down 10 1/4 cents,
Dec 26 CBOT Wheat closed at $6.81 1/4, down 8 cents,
Sep 26 KCBT Wheat closed at $7.43 3/4, down 15 cents,
Dec 26 KCBT Wheat closed at $7.58 1/2, down 13 1/4 cents,
Sep 26 MIAX Wheat closed at $6.76 1/4, up 1 1/4 cents,
Dec 26 MIAX Wheat closed at $7.04 3/4, up 3/4 cent,
