The wheat complex posted mixed trade on Tuesday, as the soft red and hard red spreads were unwinding. Chicago SRW contracts were 3 ½ to 6 ¼ cents in the green at the close. KC HRW futures were steady to down 6 ¼ cents on the day. MPLS spring wheat posted Tuesday session losses of 1 ¾ to 4 ¾ cents.
NASS Crop Progress data showed 95% of the US winter wheat crop headed by Sunday, 4% ahead of normal. Harvest was pegged at 25%, faster than the 13% average pace. Conditions were up 2% to 27% gd/ex, with the Brugler500 index 4 points higher to 267. An average of the main 5 HRW states was up 2 points to 213, with SRW states averaging a 357 rating, down 5 points. The main white wheat states slipped 6 points to 367.
The spring wheat crop was 95% emerged, 6% ahead of the average pace. The crop was 6% headed, 1 percentage point ahead of normal. Spring wheat conditions were 55% gd/ex, up 3%, with the Brugler500 rising 2 points to 352. Improvement was noted in MN (+14)< MN (+4), and ID (+3), with the other states showing weaker conditions, led by a 4 point drop in ND.
The EU wheat exports form July 1 to June 14 have totaled 22.38 MMT according to European Commission data, up 1.44 MMT from the same period a year ago.
Jul 26 CBOT Wheat closed at $5.96, up 6 1/4 cents,
Sep 26 CBOT Wheat closed at $6.04 1/4, up 3 3/4 cents,
Jul 26 KCBT Wheat closed at $6.33 3/4, down 6 1/4 cents,
Sep 26 KCBT Wheat closed at $6.41, down 4 1/4 cents,
Jul 26 MIAX Wheat closed at $6.12 1/4, down 3 3/4 cents,
Sep 26 MIAX Wheat closed at $6.35, down 4 3/4 cents,
